Bankruptcy Exemption Citations
A Research Database... updated as time allows... Not guaranteed to be complete or up to date ... you can find pay services for that... Not a subsitute for legal advice

← New York Personal Property Exemptions

Exemption: Savings & loan savings to $600

Citation: Stat. - N.Y. Banking Law § 407

.
N.Y. Banking Law § 407 :
Article X. Savings and Loan Associations (Refs & Annos)

� 407. Exemptions

Savings and loan associations shall be deemed institutions for savings, and such associations and the property of such associations shall be exempt from taxation under any law which shall exempt savings banks or institutions for savings from taxation. The shares held by members of any association and the dues and dividends credited thereon shall be exempt from sale on execution and proceedings supplementary thereto to the amount of six hundred dollars, and the members of any such association shall not be individually liable for the payment of its debts. The shares of savings and loan associations shall not be subject to the stock transfer tax either when issued by the association or when transferred from one member to another.
Last Amended: 1972
1972
(Formerly � 411, L.1914, c. 369; renumbered � 407 and amended L.1939, c. 341, � 43; amended L.1972, c. 167, � 5.)
ADVERTISEMENT -
  • Other State Citations
  • Other States on this topic

Other New York Exemption Citations

50 State Personal Property Exemptions