§ 673. Abstraction or misappropriation of money, funds or property, or misapplication of credit of private bankers or corporations to which the banking law is applicable, by an officer, director, trustee, employee or agent thereof. Any officer, director, trustee, employee or agent of any corporation to which the banking law is applicable, or any employee or agent of any private banker, who abstracts or wilfully misapplies any of the money, funds or property of such corporation or private banker, or wilfully misapplies its or his credit, is guilty of a felony. Nothing in this section shall be deemed or construed to repeal, amend or impair any existing provision of law prescribing a punishment for any such offense.

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Terms Used In N.Y. Banking Law 673

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • director: as used in this Article of the persons having, by law, the direction or management of the affairs of a corporation, by whatever name described. See N.Y. Banking Law 674
  • Trustee: A person or institution holding and administering property in trust.