New York § 380-K - 380-KInvestment in promissory notes
Full text of New York New York Consolidated Laws § 380-K — 380-KInvestment in promissory notes, with citation guidance and answers to common questions.
§ 380-K. 380-KInvestment in promissory notes
§ 380-k. Investment in promissory notes. A savings and loan association may invest in promissory notes and other evidences of indebtedness representing commercial, corporate or business loans to the same extent as a savings bank is authorized to invest in such notes under subdivision eight-c of section two hundred thirty-five of this chapter, subject to those limitations applicable to such investments in the case of a savings bank. For the purposes of this section, the term "net worth" shall have the meaning ascribed to it by subdivision four of section two hundred forty-four of this chapter. In addition, a savings and loan association is authorized to invest in such promissory notes as a savings bank may invest in pursuant to paragraph five of subdivision eight of section two hundred thirty-five of this chapter.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 380-K
What does New York Consolidated Laws § 380-K cover?
Section 380-K ("380-KInvestment in promissory notes") 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 § 380-K?
A common citation format is "New York Consolidated Laws § 380-K" (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 § 380-K 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.