New York § 490-B - 490-BManagement of fund
Full text of New York New York Consolidated Laws § 490-B — 490-BManagement of fund, with citation guidance and answers to common questions.
§ 490-B. 490-BManagement of fund
§ 490-b. Management of fund. The fund shall be collected, held, administered and disbursed by a corporate trustee or a board of trustees composed of individuals who are directors or members of a supervisory committee of credit unions. The appointment of a corporate trustee or a board of trustees, as the case may be, shall be subject to the approval of the superintendent. In the event there be a board of individual trustees, a majority of them at any time in office, shall constitute a quorum and the vote of a majority present at any meeting, provided a quorum is present, shall be determinative.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 490-B
What does New York Consolidated Laws § 490-B cover?
Section 490-B ("490-BManagement of fund") 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 § 490-B?
A common citation format is "New York Consolidated Laws § 490-B" (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 § 490-B 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.