N.Y. Banking Law 380-J – Authorization to acquire and lease personal property
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§ 380-j. Authorization to acquire and lease personal property. A savings and loan association is authorized to acquire and lease personal property to the same extent as a commercial bank is authorized to engage in such activities under subdivision twelve of section ninety-six of this chapter, subject to those limitations applicable to such activities in the case of banks or trust companies.
Terms Used In N.Y. Banking Law 380-J
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.