New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 100 - Personal Property Leasing Activities Of Banks And Trust Companies
Section 100.3 - Limitations
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 100.3
Current through Register Vol. 46, No. 12, March 20, 2024
(a) All personal property leasing performed by banks or trust companies shall be on a net-lease basis.
(b) The aggregate investment by a bank or trust company in personal property subject to leases other than full-payout leases shall not exceed 10 percent of the assets of the bank or trust company.
(c) All amounts owned by lessees under leases shall be deemed a loan to the lessee and the personal property subject to a lease shall be considered to be collateral securing such loan for the purposes of Banking Law, section 103(1).
Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
