N.Y. BNK Law § 676

§ 676. Unauthorized withdrawals from savings or time deposit accounts.\nAny withdrawal of moneys from any savings account or time deposit\naccount maintained in any banking organization, branch of a foreign\nbanking corporation, national bank, federal savings and loan association\nor federal credit union located in this state which is made by means of\nan unauthorized signature is wholly inoperative as to the person whose\nname is signed unless such person has authorized or ratified such\nwithdrawal or is precluded from denying such withdrawal because he has\nreceived a portion of the funds withdrawn, provided that in such latter\nevent he shall be precluded from denying such withdrawal only with\nrespect to the funds so received; provided, however, that such a\nsignature shall operate as the signature of the unauthorized signer in\nfavor of any such banking organization, branch of a foreign banking\ncorporation, national bank, federal savings and loan association or\nfederal credit union which has, in good faith, honored such withdrawal.\nNo such banking organization, branch of a foreign banking corporation,\nnational bank, federal savings and loan association or federal credit\nunion shall interpose the defense, in an action for recovery by a\ndepositor of money paid upon an unauthorized signature, that it has\nexercised due care and diligence in ascertaining the identity of the\nperson to whom it has paid such money. The term "unauthorized signature"\nshall have the meaning ascribed to it by section 1--201 of the uniform\ncommercial code and the term "savings account" shall include shares\nissued by a savings and loan association, state or federally chartered,\nand by a credit union, state or federally chartered.\n Any waiver of the provisions of this section or any contrary\nagreement, by-law, rule or regulation of any banking organization,\nbranch of a foreign banking corporation, national bank, federal savings\nand loan association or federal credit union located in this state shall\nbe void as against public policy and wholly unenforceable.\n