§ 486-a. Retention of special additional mortgage recording tax exemption for converted federal credit unions. Mortgages made by a credit union that is issued an authorization certificate on or after January first, two thousand nine pursuant to section four hundred eighty-six of this article shall be exempt from the special additional mortgage tax imposed pursuant to paragraph (a) of subdivision one-a of § 253 of the tax law.

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Terms Used In N.Y. Banking Law 486-A

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.