N.Y. BNK Law § 612-A
This is the official text of N.Y. BNK Law § 612-A, 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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Payment of wages
Official statutory text
§ 612-a. Payment of wages. All wages actually owing to the employees\nof a banking organization in the possession of the superintendent for\nservices rendered within three months prior to the date when possession\nwas taken, not exceeding two thousand dollars to each employee, shall be\npaid prior to the payment of every other debt or claim, and in the\ndiscretion of the superintendent may be paid as soon as practicable\nafter taking possession, except that at all times the superintendent\nshall reserve such funds as will in his opinion be sufficient for the\nexpenses of administration.\n
Status: in_force · Read it on the official government site
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