454 - Servicing of municipal loans by banking institutions. - New York Statutes

§ 454. Servicing of municipal loans by banking institutions. The municipality is authorized to make provision, either in the loan agreement or by separate agreement, for the performance by one or more banking institutions of such services as are generally performed by any such bank itself owning and holding such a loan and as may be approved by the banking board of the state banking department, for which services a bank may make and collect such service charges as the banking board shall prescribe or approve.