2010 New York Code
BNK - Banking
Article 6 - (229 - 260-B) SAVINGS BANKS
234-B - Trust powers.

§ 234-b.  Trust  powers.  1.  The  banking  board  is  authorized  and
  empowered to grant permission to a savings bank to exercise any  or  all
  of  the  powers  specified  in  sections one hundred, one hundred-a, one
  hundred-b  and  one  hundred-c  of  this  chapter.   In   passing   upon
  applications  for  permission  to  exercise any such powers, the banking
  board may take into consideration the amount of surplus of the  applying
  savings  bank,  whether  or  not  such  surplus  is sufficient under the
  circumstances of the case, the needs of the community to be  served  and
  any  other facts and circumstances that seem to it proper, and may grant
  or refuse it permission accordingly.
    2. Whenever the laws of this state require a trust company acting in a
  fiduciary capacity to deposit securities with the state authorities  for
  the protection of private or court trusts, a savings bank, so acting, is
  empowered to make similar deposits of securities.
    4.  The  banking board is authorized to promulgate such regulations as
  it may deem necessary or proper to  implement  the  provisions  of  this
  section and the proper exercise of the powers granted by this section.