Search OpenLegislation Statutes

This entry was published on 2014-09-22
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§ 229. Application.

1. This article applies to every savings bank and shall not apply to
any other banking organization except to such extent, if any, as may be
specified in any article of this chapter governing such banking
organization; provided, however, that in the case of stock-form savings
banks, this article applies to every such organization except that the
superintendent of financial services, consistent with the declaration of
policy described in section fourteen-e of this chapter, shall be
empowered to deem inapplicable to stock-form savings banks, sections two
hundred thirty, two hundred thirty-one, two hundred thirty-two, two
hundred thirty-three, subdivisions one and two of section two hundred
thirty-four, two hundred forty-three, two hundred forty-four, two
hundred forty-five, two hundred forty-six, two hundred forty-six-a, two
hundred forty-seven, two hundred forty-eight, two hundred forty-nine,
two hundred fifty, two hundred fifty-one and two hundred fifty-two of
this chapter.

2. The general corporation law, the stock corporation law and the
business corporation law shall not apply to any savings bank. If there
should be in any other corporate law a provision which conflicts with
any provision of this chapter, the provision of this chapter shall
prevail and the conflicting provision of such other corporate law shall
not apply in such case.