Skip to Content

Translate | Disclaimer

Changes in the By Laws of a Savings & Loan Association

UNOFFICIAL COPY:Banking Law, Section 402 

NY - § 402. Amendment Of Articles Of Association And By-Laws; Application To Supreme Court.

1. Any proposed change in the articles of association, certificate of association, organization certificate or the by-laws of any savings and loan association shall be submitted to the superintendent and, upon the superintendent's written approval thereof, shall be posted in a conspicuous place in the office of the association for thirty days. Such proposed changes may thereafter be incorporated in the articles of association, certificate of association, organization certificate or the by-laws of the association by being duly adopted by its directors. A copy of such change shall be filed in the office of the superintendent within thirty days after such adoption.

2. Any association may, upon notice to the Superintendent, apply to any justice of the supreme court of the district wherein the principal office of such association is located, for a review of the superintendent's refusal to approve any proposed change in its articles of association, certificate of association, organization certificate or by-laws. Any proposed change approved by such court may be incorporated in the articles of association, certificate of association, organization certificate or the by-laws of such association by being duly adopted by its directors. A copy of such change shall be filed in the office of the Superintendent within thirty days after such adoption.

 

About DFS

Contact DFS

Reports & Publications

Licensing

Laws and Regs

Connect With DFS

DFS Facebook page

Follow NYDFS on Twitter