Statute · New York Banking Law
N.Y. Banking Law § 665 — Misconduct by directors of banking corporations
N.Y. Banking Law § 665
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 665. Misconduct by directors of banking corporations. Every director of a banking corporation who:
Citator
N.Y. Banking Law § 665 — Misconduct by directors of banking corporations is in force in the current edition of the Code, and nothing recorded condemns it.
§ 665. Misconduct by directors of banking corporations. Every director of a banking corporation who:
1. In case of the fraudulent insolvency of such corporation, shall have participated in such fraud; or
2. Wilfully does any act as such director which is expressly forbidden by statute, or wilfully omits to perform any duty imposed upon him as such director by statute,
Is guilty of a misdemeanor, if no other punishment is prescribed therefor by law.
The insolvency of a banking corporation is deemed fraudulent unless its affairs appear upon investigation to have been administered fairly, legally and with the same care and diligence that agents receiving a compensation for their services are bound, by law, to observe.