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2015 New York Laws
BNK - Banking
Article 10 - (Banking) SAVINGS AND LOAN ASSOCIATIONS
382 - Power to borrow.

NY Banking L § 382 (2015) What's This?
 382.   Power   to   borrow.  Subject  to  such  regulations  as  the
  superintendent of financial services may promulgate, a savings and  loan
  association  may  borrow money and pledge its assets as security for the
  repayment thereof if it has been authorized so to do by the  vote  of  a
  majority of its board of directors.

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