N.Y. Banking Law § 420-f: Use of fund name prohibited; penalties for violation

§ 420-f. Use of fund name prohibited; penalties for violation. No

individual, association, partnership, or corporation shall use the words

"state savings and loan insurance fund", or any combination of any of

these words which would have the effect of leading the public in general

to believe there was any connection, actually not existing, between such

individual, association, partnership, or corporation and the fund, as

the name under which he or it shall hereafter do business. No

individual, association, partnership, or corporation shall advertise or

otherwise represent falsely by any device whatsoever that his or its

accounts are insured or in anywise guaranteed by the fund, or by the

state, or by any instrumentality thereof; and no insured member shall

advertise or otherwise represent falsely by any device whatsoever the

extent to which or the manner in which its accounts are insured by the

fund. Every individual, partnership, association, or corporation

violating this section shall be guilty of a misdemeanor punishable by a

fine of not exceeding one thousand dollars, or by imprisonment not

exceeding one year, or both.