New York § 19 - 19Assessments for deficiency in reserves against deposits
Full text of New York New York Consolidated Laws § 19 — 19Assessments for deficiency in reserves against deposits, with citation guidance and answers to common questions.
§ 19. 19Assessments for deficiency in reserves against deposits
§ 19. Assessments for deficiency in reserves against deposits. If any banking organization or branch of a foreign banking corporation shall not maintain the total reserves prescribed by or pursuant to this chapter, the superintendent may levy an assessment upon it for such period as any deficiency in its total reserves amounting to one per centum or more of its deposits against which reserves are required to be maintained shall continue, at rates not in excess of the following: (1) Six per centum per annum upon any such deficiency not exceeding two per centum of such deposits. (2) Eight per centum per annum upon any additional deficiency in excess of two and not exceeding three per centum of such deposits. (3) Ten per centum per annum upon any additional deficiency in excess of three and not exceeding four per centum of such deposits. (4) Twelve per centum per annum upon any additional deficiency therein.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 19
What does New York Consolidated Laws § 19 cover?
Section 19 ("19Assessments for deficiency in reserves against deposits") 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 § 19?
A common citation format is "New York Consolidated Laws § 19" (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 § 19 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.