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Statutes » New York » EDN Law » Title 1

N.Y. EDN Law § 623

This is the official text of N.Y. EDN Law § 623, part of New York’s EDN Law — part of the compiled statutory law of New York, published by the state as "EDN Law." Browse the sections below, each linked to its official government source.

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Prohibition of receipt of gifts by covered institution employees

Official statutory text

§ 623. Prohibition of receipt of gifts by covered institution\nemployees. 1. A covered institution shall require that no covered\ninstitution employee on his or her own behalf or on behalf of another,\ndirectly or indirectly, solicits, accepts or receives any gift from or\non behalf of a lending institution. Nothing in this section shall be\nconstrued as prohibiting a covered institution employee from conducting\nbusiness with a lending institution, provided that such business is\nunrelated in any manner whatsoever to a covered institution.\n 2. A covered institution employee, on his or her own behalf or on\nbehalf of another, shall not directly or indirectly solicit, accept or\nreceive any gift from or on behalf of a lending institution. Nothing in\nthis section shall be construed as prohibiting a covered institution\nemployee from conducting business with any lending institution, provided\nthat such business is unrelated in any manner whatsoever with the\ncovered institution.\n 3. Covered institution employees shall report to the department any\ninstance of a lending institution attempting to give a gift to such\ncovered institution employees.\n

Status: in_force · Read it on the official government site

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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.