Statute · New York Banking Law
N.Y. Banking Law § 440 — Commissions and payment of expenses
N.Y. Banking Law § 440
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 440. Commissions and payment of expenses. The savings and loan bank may charge each member an annual commission, not to exceed one-half of one per centum, upon the outstanding bonds and notes issued in its behalf, provided, however, that the rate of commission in any year shall be the same on…
Citator
N.Y. Banking Law § 440 — Commissions and payment of expenses is in force in the current edition of the Code, and nothing recorded condemns it.
§ 440. Commissions and payment of expenses. The savings and loan bank may charge each member an annual commission, not to exceed one-half of one per centum, upon the outstanding bonds and notes issued in its behalf, provided, however, that the rate of commission in any year shall be the same on all outstanding obligations in respect to which a commission is charged; or in lieu of charging such commissions the expenses incurred on account of any such obligations may be charged to the member on whose behalf such obligations are issued.