N.Y. BNK Law § 9-G

§ 9-g. Right of set off. 1. (a) No banking institution shall assert,\nclaim or exercise any right of set off against any deposit account into\nwhich social security or supplemental security income payments are\ndeposited pursuant to an agreement with such banking institution which\nprovides that such payments be deposited directly into such deposit\naccount without presentation to the depositor at the time of deposit.\n (b) No banking institution shall assert, claim or exercise any right\nof set off against any payments referred to in subdivision (p) of\nsection fifty-two hundred five of the civil practice law and rules.\n 2. No banking institution shall assert, claim or exercise any right of\nset off against any other deposit account held by such banking\ninstitution unless, prior to or on the same business day of such action,\nnotice of the set off together with the reasons for the set off are\nmailed to the depositor.\n 3. Failure to provide the notice required by this section shall not be\ndeemed to affect the validity of the right of set off.\n 4. "Banking institution" as used in this section shall have the same\nmeaning as used in section nine-f of this chapter.\n 5. "Depositor" as used in this section shall include shareholders in\nstate and federal savings and loan associations and state and federal\ncredit unions.\n 6. "Deposit account" as used in this section shall include shares and\nshare accounts of state and federal savings and loan associations and\nstate and federal credit unions.\n 7. If any provision of this section, or the application of such\nprovision to any bank, trust company, national bank, savings bank,\nfederal mutual savings bank, savings and loan association, federal\nsavings and loan association, credit union, federal credit union or\nbranch of a foreign banking corporation, shall be held invalid, the\nremainder of this section, and the application of such section to banks,\ntrust companies, national banks, savings banks, federal mutual savings\nbanks, savings and loan associations, federal savings and loan\nassociations, credit unions, federal credit unions or branches of\nforeign banking corporations other than those to which it is held\ninvalid, shall not be affected thereby.\n