New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 3. Banking |
Chapter I. General Regulations of the Superintendent |
Part 89. Alternative Investments in Debt and Equity Securities by Savings Banks and Savings and Loan Associations |
Sec. 89.5. Investment committee
Latest version.
- No thrift institution shall make any investment, pursuant to the provisions of section 235.30 or 379.5 of the Banking Law and the provisions of this Part, without the prior establishment of a securities investment committee of its board of trustees or directors, a majority of the members of which committee shall not be officers or employees of the thrift institution.