Statute · New York Banking Law
N.Y. Banking Law § 234-a — Settlement, modification or readjustment of investment
N.Y. Banking Law § 234-a
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 234-a. Settlement, modification or readjustment of investment. A savings bank may consent to any settlement, modification or readjustment of any investment in securities legally made by such savings bank, and may accept and hold stocks, bonds, notes, securities or other property, real or…
Citator
N.Y. Banking Law § 234-a — Settlement, modification or readjustment of investment is in force in the current edition of the Code, and nothing recorded condemns it.
§ 234-a. Settlement, modification or readjustment of investment. A savings bank may consent to any settlement, modification or readjustment of any investment in securities legally made by such savings bank, and may accept and hold stocks, bonds, notes, securities or other property, real or personal, offered in full or partial settlement, modification or readjustment of any such investment. The superintendent may, in his discretion, require any savings bank to dispose of any investment acquired by it pursuant to this section.