New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 3. Banking |
Chapter III. Superintendent's Regulations |
Subchapter B. Non-Banking Organizations |
Part 406. Money Transmitters |
Sec. 406.14. Deposit of securities
Latest version.
- A licensee who in lieu of filing a corporate surety bond elects to deposit securities pursuant to Banking Law, section 643(3), shall execute with the depository bank, trust company or national bank a deposit agreement in form satisfactory to the superintendent. An executed copy of this deposit agreement shall be filed with the superintendent.