New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 69 - Mandatory Transfers To Surplus For Thrift Institutions Pursuant To Banking Law, Sections 244(3) And 387(1)
Section 69.1 - Transfers to surplus funds of savings banks
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 69.1
Current through Register Vol. 46, No. 12, March 20, 2024
If, at the close of any accounting period, the net worth of any savings bank is less than 10 per centum of the amount due to depositors, 10 per centum of its net earnings for such period shall be credited to its surplus fund, or so much thereof less than 10 per centum as will make such net worth equal to 10 per centum of the amount due to depositors.
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.
