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2016 New York Laws
BNK - Banking
Article 13 - (Banking) MERGER; VOLUNTARY DISSOLUTION; SUPERINTENDENT'S TAKING POSSESSION; REORGANIZATION; LIQUIDATION
628 - Payment of dividends when deposits have been made available by Federal Deposit Insurance Corporation.

NY Banking L § 628 (2016) What's This?
 628.  Payment of dividends when deposits have been made available by
  Federal Deposit Insurance Corporation.  When  the  superintendent  shall
  have  taken  possession  of  any banking organization for the purpose of
  liquidation, and Federal Deposit Insurance Corporation shall  have  made
  available  to  the  depositors  thereof  the amounts of their respective
  deposits insured by such corporation, he shall  be  authorized,  without
  requiring  assignments  from depositors, to pay to such corporation such
  dividends on account of such insured deposits as such  depositors  would
  be  entitled  to  receive  had their deposits not been made available to
  them by such corporation.

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