Statute · New York Banking Law
N.Y. Banking Law § 412 — Conversion of federal savings institutions to state charter
N.Y. Banking Law § 412
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 412. Conversion of federal savings institutions to state charter. The superintendent is authorized to promulgate such regulations as are necessary to permit the conversion of any federal savings association or federal savings and loan association to state charter where such conversion is not…
Citator
N.Y. Banking Law § 412 — Conversion of federal savings institutions to state charter is in force in the current edition of the Code, and nothing recorded condemns it.
§ 412. Conversion of federal savings institutions to state charter. The superintendent is authorized to promulgate such regulations as are necessary to permit the conversion of any federal savings association or federal savings and loan association to state charter where such conversion is not otherwise governed by the provisions of this chapter. Subject to the foregoing, such regulations may provide for the conversion of a federal savings association or federal savings and loan association, whether in mutual or stock form, into a state-chartered savings bank or state-chartered savings and loan association. The federal savings association shall submit a written plan of conversion to the superintendent, together with an investigation fee as prescribed pursuant to section eighteen-a of this chapter.