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2012 New York Consolidated Laws
SOS - Social Services
Article 10 - (474 - 480) GENERAL PROVISIONS APPLICABLE TO CHARITABLE INSTITUTIONS
479 - Designation of depository of funds.


NY Soc Serv L § 479 (2012) What's This?
 
    §  479.  Designation of depository of funds.  1.  It shall be the duty
  of the board of trustees or managers of each  charitable  or  benevolent
  institution  in  this  state,  supported  in  whole or in part by moneys
  received from the state, or by any county,  city  or  town  thereof,  to
  designate  by  resolution,  to  be entered upon their minutes, some duly
  incorporated national or state bank or trust company as  the  depository
  of the funds of such institution.
    2.    After such designation, it shall be the duty of the treasurer of
  each such charitable or benevolent institution immediately to deposit in
  the bank or trust company so designated, in his name as treasurer of the
  institution, naming it, all funds of the institution which may come into
  his possession.

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