New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 22 - Common Trust Funds
Section 22.21 - Effect of mistakes
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 22.21
Current through Register Vol. 46, No. 12, March 20, 2024
No mistake made in good faith and despite the exercise of due care in connection with the administration of a common trust fund shall be deemed to be a violation of this Part if after the discovery of the mistake the trust company takes promptly whatever action may be practicable in the circumstances to remedy the mistake.
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