Internal prototype — noindexed, not linked from public navigation yet.

Statutes » New York » BNK Law » Article 2-C

N.Y. BNK Law § 86

This is the official text of N.Y. BNK Law § 86, 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.

Eligibility

Official statutory text

§ 86. Eligibility. 1. To be eligible to receive deposits, or to renew\nexisting deposits under this program, a bank, trust company, savings\nbank or savings and loan association: (a) must be chartered under the\nprovisions of this chapter and (b) must have a current CRA rating of\nsatisfactory or better. The superintendent shall, if requested by the\nstate comptroller or the commissioner of taxation and finance, confirm\nwhether a particular banking institution meets the criteria specified in\nthis section.\n 2. A federal bank, trust company, savings bank or savings and loan\nassociation may also be eligible to receive deposits, or to renew\nexisting deposits, under this program if: (a) its principal office is\nlocated in this state; (b) it has a current CRA rating of satisfactory\nor better; and (c) it meets any additional criteria established by the\ncomptroller and the commissioner of taxation and finance to determine\neligibility for participation in the program. Such criteria may include\nan institution's loan to deposit ratio, its record of small business\nlending, and the impact such deposits would have on an area's economic\nactivity.\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.