N.Y. Comp. Codes R. & Regs. tit. 3 § 321.1

Current through Register Vol. 46, No. 49, December 4, 2024

Section 321.1 - Definitions

(a) The term bank when used in this Part, unless a different meaning appears from the context, means a bank or a trust company, a stock-form savings bank or a stock-form savings and loan association.

(b) The term executive officer means every officer who participates or has authority to participate, otherwise than in the capacity of a director, in major policy-making functions of the bank, regardless of whether he or she has an official title or whether such title contains a designation of assistant and regardless of whether he or she is serving without salary or other compensation, provided that the chairman of the board of directors, the president, every vice president, the cashier, the secretary and the treasurer are assumed to be executive officers, unless, by resolution of the board of directors or by the bylaws of the bank, any such officer is excluded from participation in major policy-making functions, otherwise than in the capacity of a director of the bank, and he or she does not actually participate therein.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 321.1