2006 New York Code - Club Accounts.

 
    § 98-a.  Club  accounts.  1.  No  contract under which a bank or trust
  company agrees to repay deposits of fixed sums made at regular intervals
  at a given time with all interest or dividends credited thereon,  or  to
  repay  said  deposits when, together with interest or dividends credited
  thereon,  they  shall  equal  a  specified  sum,  may  provide  for  any
  forfeiture  of  the sums deposited in the event of the discontinuance of
  the regular  payments.  Interest  or  dividends  on  club  accounts,  if
  offered,  must  be  credited at least quarterly and may not be forfeited
  once credited, in the event of the discontinuance of regular payments.
    2. Any bank which provides for deposits in club accounts shall, in all
  advertising, announcements or brochures  pertaining  to  such  accounts,
  state  whether  or  not  interest  or dividends are paid thereon and, if
  interest or dividends are paid, shall state the rate or form of interest
  or dividends so paid in accordance with any rules and  regulations  that
  may be prescribed by the superintendent.