New York § 166 - 166Depositors preferred in case of failure or suspension
Full text of New York New York Consolidated Laws § 166 — 166Depositors preferred in case of failure or suspension, with citation guidance and answers to common questions.
§ 166. 166Depositors preferred in case of failure or suspension
§ 166. Depositors preferred in case of failure or suspension. In case of the failure or suspension of any private banker, the claims of persons for money on deposit or delivered for transmission shall be preferred against such assets as shall be shown by the books of such private banker, or by other legal evidence, to have been derived from the investment of such moneys, or from the investment of permanent capital, such claimants shall also share pro rata with other creditors in any other assets of such individual or of such partnership and of the individual members thereof.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 166
What does New York Consolidated Laws § 166 cover?
Section 166 ("166Depositors preferred in case of failure or suspension") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 166?
A common citation format is "New York Consolidated Laws § 166" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 166 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.