New York § 680-E - 680-EPermissible purpose
Full text of New York New York Consolidated Laws § 680-E — 680-EPermissible purpose, with citation guidance and answers to common questions.
§ 680-E. 680-EPermissible purpose
§ 680-e. Permissible purpose. 1. A special deposit must serve at least one permissible purpose stated in the account agreement from the time the special deposit is created in the account agreement until termination of the special deposit. 2. If, before termination of the special deposit, the bank or a court determines the special deposit no longer satisfies subdivision one of this section, sections six hundred eighty-g, six hundred eighty-h, six hundred eighty-i and six hundred eighty-j of this article cease to apply to any funds deposited in the special deposit after the special deposit ceases to satisfy subdivision one of this section. 3. If, before termination of a special deposit, the bank determines the special deposit no longer satisfies subdivision one of this section, the bank may take action it believes is necessary under the circumstances, including terminating the special deposit.
Frequently Asked Questions About New York § 680-E
What does New York Consolidated Laws § 680-E cover?
Section 680-E ("680-EPermissible purpose") 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 § 680-E?
A common citation format is "New York Consolidated Laws § 680-E" (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 § 680-E 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.