3 CRR-NY 85.6NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 3. BANKING
CHAPTER I. GENERAL REGULATIONS OF THE SUPERINTENDENT
PART 85. INVESTMENT IN SERVICE CORPORATIONS BY SAVINGS BANKS AND SAVINGS AND LOAN ASSOCIATIONS
3 CRR-NY 85.6
3 CRR-NY 85.6
85.6 Separate existence of service corporation.
Every service corporation shall be operated in a manner which demonstrates to the public that the service corporation has separate corporate existence and is operationally distinct from its parent savings bank or savings and loan association. Every instrument which evidences a borrowing by a service corporation shall specifically indicate whether or not, and to what extent, its parent institution is liable for such borrowing.
3 CRR-NY 85.6
Current through January 31, 2023
End of Document