§ 161. Authorization certificate.
142 words·~1 min read·
/ny/banking/private-bankers/161A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 161. Authorization certificate. If the superintendent shall issue an
authorization certificate as provided in article two of this chapter,
such individual or partnership may engage in the business of banking
including receiving deposits subject to check or for repayment upon the
presentation of a pass book, certificate of deposit or other evidence of
debt, or upon the request of the depositor, or in the discretion of such
individual, or partnership; receiving money for transmission;
discounting or negotiating promissory notes, drafts, bills of exchange
or other evidences of debt; and buying or selling exchange, coin or
bullion at the location specified in such authorization certificate,
subject to all the restrictions and limitations contained in this
chapter. In conducting such business a private banker may make use of
the words "bank," "banker" or "banking" or their equivalent or any
derivative or compound thereof.