N.Y. BNK Law § 440
This is the official text of N.Y. BNK Law § 440, 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.
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Commissions and payment of expenses
Official statutory text
§ 440. Commissions and payment of expenses. The savings and loan bank\nmay charge each member an annual commission, not to exceed one-half of\none per centum, upon the outstanding bonds and notes issued in its\nbehalf, provided, however, that the rate of commission in any year shall\nbe the same on all outstanding obligations in respect to which a\ncommission is charged; or in lieu of charging such commissions the\nexpenses incurred on account of any such obligations may be charged to\nthe member on whose behalf such obligations are issued.\n
Status: in_force · Read it on the official government site
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