Statute · New York Banking Law
N.Y. Banking Law § 612-a — Payment of wages
N.Y. Banking Law § 612-a
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 612-a. Payment of wages. All wages actually owing to the employees of a banking organization in the possession of the superintendent for services rendered within three months prior to the date when possession was taken, not exceeding two thousand dollars to each employee, shall be paid prior…
Citator
N.Y. Banking Law § 612-a — Payment of wages is in force in the current edition of the Code, and nothing recorded condemns it.
§ 612-a. Payment of wages. All wages actually owing to the employees of a banking organization in the possession of the superintendent for services rendered within three months prior to the date when possession was taken, not exceeding two thousand dollars to each employee, shall be paid prior to the payment of every other debt or claim, and in the discretion of the superintendent may be paid as soon as practicable after taking possession, except that at all times the superintendent shall reserve such funds as will in his opinion be sufficient for the expenses of administration.