N.Y. BNK Law § 628
This is the official text of N.Y. BNK Law § 628, 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.
Payment of dividends when deposits have been made available by Federal Deposit Insurance Corporation
Official statutory text
§ 628. Payment of dividends when deposits have been made available by\nFederal Deposit Insurance Corporation. When the superintendent shall\nhave taken possession of any banking organization for the purpose of\nliquidation, and Federal Deposit Insurance Corporation shall have made\navailable to the depositors thereof the amounts of their respective\ndeposits insured by such corporation, he shall be authorized, without\nrequiring assignments from depositors, to pay to such corporation such\ndividends on account of such insured deposits as such depositors would\nbe entitled to receive had their deposits not been made available to\nthem by such corporation.\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.