# N.Y. BNK Law § 230: Incorporation; organization certificate

> New York · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S230

## Section

- **Citation:** N.Y. BNK Law § 230
- **Heading:** Incorporation; organization certificate
- **Jurisdiction:** New York
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** New York Code / Act BNK / Article 6 / Section 230

## Text

§ 230. Incorporation; organization certificate. When authorized by the\nsuperintendent as provided in article two of this chapter, not less than\nnine nor more than twenty persons may incorporate a savings bank. They\nshall subscribe and acknowledge an organization certificate in\nduplicate, which shall specifically state:\n 1. The name by which the corporation is to be known.\n 2. The place where its principal office is to be located.\n 3. Its duration if other than perpetual.\n 4. The name, occupation, citizenship, residence and post-office\naddress of each incorporator.\n 5. The amount which each incorporator will contribute in cash to the\nsurplus fund.\n 6. The names of the incorporators who are to constitute its first\nboard of trustees. Such persons as individuals and as a group must be\nfree of the disqualifications specified in section two hundred forty-six\nof this article.\n

## Nearby sections

- [N.Y. BNK Law § 229 Application](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S229.md)
- [N.Y. BNK Law § 230 Incorporation; organization certificate](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S230.md)
- [N.Y. BNK Law § 232 Organization certificate to be submitted to superintendent; proof of publication and service of notice of intention](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S232.md)
- [N.Y. BNK Law § 233 When corporate existence begins; conditions precedent to commencing business](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S233.md)
- [N.Y. BNK Law § 234 General powers](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S234.md)
- [N.Y. BNK Law § 234-A Settlement, modification or readjustment of investment](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S234-A.md)
- [N.Y. BNK Law § 234-B Trust powers](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S234-B.md)
- [N.Y. BNK Law § 235 Investment of funds](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S235.md)
- [N.Y. BNK Law § 235-B Effect of usury](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S235-B.md)
- [N.Y. BNK Law § 235-C Regulation of certain charges](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S235-C.md)
- [N.Y. BNK Law § 235-D Service corporations owned by savings banks; authorized activities of such corporations; investment therein](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S235-D.md)
- [N.Y. BNK Law § 236 Deposits by savings banks with other banking corporations and private bankers; restrictions](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S236.md)
- [N.Y. BNK Law § 237 Deposits with savings banks; restrictions](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S237.md)
- [N.Y. BNK Law § 238 Regulations and restrictions as to repayment of deposits](https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S238.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NY_ABNK_A6_S230. Check the current official text before relying on it. Not legal advice.