Statute · New York Banking Law
N.Y. Banking Law § 463 — Exemptions and individual liability of shareholders
N.Y. Banking Law § 463
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 463. Exemptions and individual liability of shareholders. The transfer of the shares of any credit union shall not be taxable under the provisions of article twelve of the tax law.
Citator
N.Y. Banking Law § 463 — Exemptions and individual liability of shareholders is in force in the current edition of the Code, and nothing recorded condemns it.
§ 463. Exemptions and individual liability of shareholders. The transfer of the shares of any credit union shall not be taxable under the provisions of article twelve of the tax law.
The shareholders of a credit union shall not be individually liable for the payment of the credit union's debts.