N.Y. Banking Law § 490-g: Payment of liquidating dividends on uninsured shares

§ 490-g. Payment of liquidating dividends on uninsured shares. In the

event of liquidation by the superintendent of any credit union which is

a party to the agreement, he shall pay on account of its uninsured share

liabilities and deposit liabilities, dividends in the same manner and

amount as he would pay on account thereof if none of the share

liabilities of such credit union were insured.