§ 378-c. Excelsior linked deposit program. A savings and loan association may accept moneys deposited by the comptroller or the commissioner of taxation and finance as linked deposits pursuant to Article 15 of the state finance law and enter into agreements, pledge assets or furnish other security, satisfactory in form and amount to such authorized depositor, for the repayment of such moneys.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In N.Y. Banking Law 378-C

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.