2010 New York Code
BNK - Banking
Article 6 - (229 - 260-B) SAVINGS BANKS
233 - When corporate existence begins; conditions precedent to commencing business.

§ 233.  When  corporate  existence  begins;  conditions  precedent  to
  commencing business. When the superintendent  shall  have  approved  the
  organization  certificate,  as  provided in article two of this chapter,
  the corporate existence of the savings bank  shall  begin,  and  it  may
  exercise all the powers necessary to the completion of its organization.
  Such savings bank shall transact no other business until:
    1.  The  incorporators  shall  have  deposited  to  the credit of such
  savings bank in cash as an initial surplus fund at  least  ten  thousand
  dollars, and, if the superintendent shall so require, shall have entered
  into  an agreement or undertaking with the superintendent as trustee for
  the depositors of the savings bank, to make such  further  contributions
  in  cash  to  the surplus fund as, in the opinion of the superintendent,
  may be necessary to maintain the  savings  bank  in  safe  condition  to
  continue business, and shall have filed with the superintendent a surety
  bond  of  a corporation authorized to transact the business of insurance
  in this state, securing such agreement  or  undertaking  in  the  amount
  required by the superintendent.
    2.  It  shall  have informed the superintendent of the name, residence
  and post-office address of each officer of the corporation.
    3. The superintendent shall have duly issued to it  the  authorization
  certificate specified in article two of this chapter.