N.Y. BNK Law § 233

§ 233. When corporate existence begins; conditions precedent to\ncommencing business. When the superintendent shall have approved the\norganization certificate, as provided in article two of this chapter,\nthe corporate existence of the savings bank shall begin, and it may\nexercise all the powers necessary to the completion of its organization.\nSuch savings bank shall transact no other business until:\n 1. The incorporators shall have deposited to the credit of such\nsavings bank in cash as an initial surplus fund at least ten thousand\ndollars, and, if the superintendent shall so require, shall have entered\ninto an agreement or undertaking with the superintendent as trustee for\nthe depositors of the savings bank, to make such further contributions\nin cash to the surplus fund as, in the opinion of the superintendent,\nmay be necessary to maintain the savings bank in safe condition to\ncontinue business, and shall have filed with the superintendent a surety\nbond of a corporation authorized to transact the business of insurance\nin this state, securing such agreement or undertaking in the amount\nrequired by the superintendent.\n 2. It shall have informed the superintendent of the name, residence\nand post-office address of each officer of the corporation.\n 3. The superintendent shall have duly issued to it the authorization\ncertificate specified in article two of this chapter.\n