N.Y. BNK Law § 166
This is the official text of N.Y. BNK Law § 166, part of New York’s BNK Law — part of the compiled statutory law of New York, published by the state as "BNK Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Depositors preferred in case of failure or suspension
Official statutory text
§ 166. Depositors preferred in case of failure or suspension. In case\nof the failure or suspension of any private banker, the claims of\npersons for money on deposit or delivered for transmission shall be\npreferred against such assets as shall be shown by the books of such\nprivate banker, or by other legal evidence, to have been derived from\nthe investment of such moneys, or from the investment of permanent\ncapital, such claimants shall also share pro rata with other creditors\nin any other assets of such individual or of such partnership and of the\nindividual members thereof.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.