2006 New York Code - Agreement; Filing And Provisions Thereof.

 
    § 284.  Agreement;  filing  and provisions thereof. The agreement when
  approved by the superintendent of banks shall be executed by the savings
  banks parties thereto and filed in his  office.  The  agreement  may  be
  executed  in  any  number  of  counterparts, all of which taken together
  shall constitute the original. The agreement shall name the trustee  and
  contain  suitable  provisions  for  the  removal  or  resignation of the
  trustee, or if the trustee named be a board of trustees, for the removal
  or resignation of any or all of them,  and  for  the  appointment  of  a
  successor  trustee  or  for  the  filling  of vacancies in such board of
  trustees, whether caused  by  death,  resignation,  disqualification  or
  removal;  it  shall also provide the amount of the initial contributions
  to the fund and the manner of making subsequent calls, and  may  contain
  such  limitations  thereon  as the superintendent shall approve, but all
  such initial contributions to the fund and payments pursuant to  further
  calls  shall  be  made  ratably by all the member banks in proportion to
  their several deposit liabilities, except  that  the  superintendent  of
  banks  may exempt from any such call in whole or in part any member bank
  or banks the condition of which makes  such  exemption  in  his  opinion
  desirable;  it may also provide for the liquidation of the fund pursuant
  to  rules  and  regulations  for  that   purpose   acceptable   to   the
  superintendent  of  banks,  provided  that  on  any such liquidation the
  liabilities  incurred  or  assumed  by  the  trustee  pursuant  to   the
  provisions  hereof  shall  first  be  paid  and  the balance, if any, be
  distributed  among  the  member  banks  pro  rata  according  to   their
  contributions; and the agreement may similarly provide for the change or
  amendment  thereof  with the approval of the superintendent of banks and
  with such approval may be amended in such  manner  as  may  be  provided
  therein;  and the agreement shall also define the powers of the trustee,
  which may be all or any one or more or the powers hereinafter set forth,
  together with any additional powers not  inconsistent  with  the  powers
  herein  enumerated  or  with  the purposes of the fund, set forth in the
  agreement.