N.Y. Banking Law § 234-a: Settlement, modification or readjustment of investment

§ 234-a. Settlement, modification or readjustment of investment. A

savings bank may consent to any settlement, modification or readjustment

of any investment in securities legally made by such savings bank, and

may accept and hold stocks, bonds, notes, securities or other property,

real or personal, offered in full or partial settlement, modification or

readjustment of any such investment. The superintendent may, in his

discretion, require any savings bank to dispose of any investment

acquired by it pursuant to this section.