N.Y. Banking Law 145 – Penalties; restraining orders and injunctions
§ 145. Penalties; restraining orders and injunctions. 1. Any company which wilfully violates any provision of this article is guilty of a misdemeanor and upon conviction thereof shall be fined not more than one thousand dollars for each day during which such violation continues.
Terms Used In N.Y. Banking Law 145
- Company: when used in this article, means any corporation, partnership, trust, unincorporated association, joint stock association or similar organization organized under the laws of the state of New York, or if not so organized, doing business in the state of New York, or any individual residing or doing business in the state of New York, or any combination of individuals which combination is residing or is doing business in the state of New York, any combination of the foregoing which combination is residing or is doing business in the state of New York, or any such individual and any of the foregoing acting in concert, but shall not include (a) any corporation the majority of the stock of which is owned by the United States or by any state unless the superintendent determines that it would be in the public interest to deem such a corporation to constitute a company, or (b) any corporation or community chest, fund, or foundation, organized and operated exclusively for religious, charitable, or educational purposes, no part of the net earnings of which inures to the benefit of any private stockholder or individual, and no substantial part of the activities of which is the carrying on of propaganda, or otherwise attempting to influence legislation unless the superintendent determines that it would be in the public interest to deem such a corporation, community chest, fund, or foundation to constitute a company, or (c) any corporation or partnership owning or controlling stock acquired in connection with an underwriting of securities and which is held only for such period of time as will permit the sale thereof upon a reasonable basis. See N.Y. Banking Law 141
- Conviction: A judgement of guilt against a criminal defendant.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
2. Any individual who wilfully participates in a violation of any provision of this article is guilty of a misdemeanor and upon conviction thereof shall be fined not more than ten thousand dollars or shall be imprisoned not more than one year, or both.
3. If any action violates or would violate any of the provisions of this article, the superintendent or his duly authorized agent may apply to the supreme court of this state for the enforcement of this article; and such court shall have jurisdiction to enforce obedience thereto, to order divestment of stock illegally acquired, held or voted, by injunction or by other process, mandatory or otherwise, and to restrain violation of this article.