New York § 110 - 110Surplus fund; of what composed, and for what purposes used
Full text of New York New York Consolidated Laws § 110 — 110Surplus fund; of what composed, and for what purposes used, with citation guidance and answers to common questions.
§ 110. 110Surplus fund; of what composed, and for what purposes used
§ 110. Surplus fund; of what composed, and for what purposes used. Every bank and every trust company shall create a fund to be known as a surplus fund. Such fund may be created or increased by contributions, by transfers from undivided profits, or from net profits. Such fund shall not be available for the payment of dividends, except with the prior approval of the superintendent, and may be used to pay expenses or absorb losses only in the event such bank or trust company has no undivided profits against which such expenses or losses may be charged.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 110
What does New York Consolidated Laws § 110 cover?
Section 110 ("110Surplus fund; of what composed, and for what purposes used") 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 § 110?
A common citation format is "New York Consolidated Laws § 110" (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 § 110 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.