2010 New York Code
BNK - Banking
Article 6 - (229 - 260-B) SAVINGS BANKS
246-A - Executive committee and other committees.

§ 246-a.   Executive   committee  and  other  committees.  1.  If  the
  organization certificate  or  the  by-laws  so  provide,  the  board  of
  trustees  by  resolution  adopted by a majority of the entire board, may
  designate from among its members an executive committee consisting of at
  least five trustees and other committees each consisting of two or  more
  trustees,  officers  or  other persons, not including alternate members,
  but not less  than  may  otherwise  be  required  by  this  chapter  nor
  differing  in composition from any requirement of this chapter, and each
  of which shall have such authority as may be provided in the  resolution
  or  in  the  organization  certificate or by-laws or under this chapter,
  except that no such committee shall have authority as to  the  following
  matters:
    (a)  The  filling of vacancies in the board of trustees or in any such
  committee;
    (b) The fixing of compensation of the  trustees  for  serving  on  the
  board or on any committee;
    (c)  The  amendment  or  repeal of the by-laws, or the adoption of new
  by-laws;
    (d) The amendment or repeal of any resolution of the  board  which  by
  its terms shall not be so amendable or repealable;
    (e)  The taking of action which is expressly required by any provision
  of this chapter to be taken at a meeting of the board or by a  specified
  proportion of the trustees.
    2.  Each such committee shall serve at the pleasure of the board.  The
  designation or appointment of, or making  of  provision  for,  any  such
  committee  and  the  delegation  thereto  of  authority  shall not alone
  relieve any trustee of his duty to the savings bank under any  provision
  of this chapter.
    3.  Minutes  shall  be kept of each meeting of each such committee and
  records shall be kept of all action taken in exercise of  the  authority
  or  in performance of the function of each such committee.  Such minutes
  and records shall be submitted to the board of  trustees  and  shall  be
  filed with the records of the savings bank.