9-N - Trust Accounts; Address of Beneficiary.

NY Banking L § 9-N (2019) (N/A)
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§ 9-n. Trust accounts; address of beneficiary. 1. Every banking institution, which for the purposes of this section means a bank, trust company, savings bank, savings and loan association, licensed foreign bank or credit union, which shall hold accounts by depositors in such depositor's own name and, further, in trust for a third party beneficiary or beneficiaries, shall make a written record of the address of any such beneficiary or beneficiaries at the time a trust account is established.

2. The superintendent shall enforce the provisions of this section by appropriate rules, regulations and orders.