{"data":{"id":"us-ny/n.y.-banking-law-380-k","jurisdiction":"us-ny","citation":"N.Y. Banking Law § 380-k","heading":"Investment in promissory notes","body":"§ 380-k. Investment in promissory notes. A savings and loan\nassociation may invest in promissory notes and other evidences of\nindebtedness representing commercial, corporate or business loans to the\nsame extent as a savings bank is authorized to invest in such notes\nunder subdivision eight-c of section two hundred thirty-five of this\nchapter, subject to those limitations applicable to such investments in\nthe case of a savings bank. For the purposes of this section, the term\n\"net worth\" shall have the meaning ascribed to it by subdivision four of\nsection two hundred forty-four of this chapter.  In addition, a savings\nand loan association is authorized to invest in such promissory notes as\na savings bank may invest in pursuant to paragraph five of subdivision\neight of section two hundred thirty-five of this chapter.","path":["Banking Law","Article 10. Savings and Loan Associations"],"source_url":"https://legislation.nysenate.gov/api/3/laws/BNK/380-K","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"5374521f5ecee89ece7d9134d54a54d57371c4dd0641e602f048b707821d6c50","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-banking-law-380-j","next":"us-ny/n.y.-banking-law-380-l"},"notice":"GroundRules: Original legal text. Not legal advice."}