N.Y. Banking Law § 380-H Trust Powers

• Library: New York Statutes
• Edition: 2023
• Currency: Current through 2023 NY Law Chapter 682

1. The superintendent of financial services is authorized and empowered to grant permission to a savings and loan association to exercise any or all of the powers specified in sections one hundred, one hundred-a, one hundred-b and one hundred-c of this chapter.

In passing upon applications for permission to exercise any such powers, the superintendent of financial services may take into consideration the amount of surplus of the applying association, whether or not such surplus is sufficient under the circumstances of the case, the needs of the community to be served and any other facts and circumstances that seem [to it] proper, and may grant or refuse it permission accordingly.