N.Y. Comp. Codes R. & Regs. tit. 3 § 100.3

Current through Register Vol. 46, No. 39, September 25, 2024

Section 100.3 - Limitations

(a) All personal property leasing performed by banks or trust companies shall be on a net-lease basis.

(b) The aggregate investment by a bank or trust company in personal property subject to leases other than full-payout leases shall not exceed 10 percent of the assets of the bank or trust company.

(c) All amounts owned by lessees under leases shall be deemed a loan to the lessee and the personal property subject to a lease shall be considered to be collateral securing such loan for the purposes of Banking Law, section 103(1).

N.Y. Comp. Codes R. & Regs. Tit. 3 § 100.3