N.Y. Banking Law 229 – Application
§ 229. Application.
Terms Used In N.Y. Banking Law 229
- 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.
1. This article applies to every savings bank and shall not apply to any other banking organization except to such extent, if any, as may be specified in any article of this chapter governing such banking organization; provided, however, that in the case of stock-form savings banks, this article applies to every such organization except that the superintendent of financial services, consistent with the declaration of policy described in section fourteen-e of this chapter, shall be empowered to deem inapplicable to stock-form savings banks, sections two hundred thirty, two hundred thirty-one, two hundred thirty-two, two hundred thirty-three, subdivisions one and two of section two hundred thirty-four, two hundred forty-three, two hundred forty-four, two hundred forty-five, two hundred forty-six, two hundred forty-six-a, two hundred forty-seven, two hundred forty-eight, two hundred forty-nine, two hundred fifty, two hundred fifty-one and two hundred fifty-two of this chapter.
2. The general corporation law, the stock corporation law and the business corporation law shall not apply to any savings bank. If there should be in any other corporate law a provision which conflicts with any provision of this chapter, the provision of this chapter shall prevail and the conflicting provision of such other corporate law shall not apply in such case.