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COPYRIGHT, 1914

BY

THE BANKS LAW PUBLISHING CO.

COPYRIGHT, 1915

BY

THE BANKS LAW PUBLISHING CO.

MAR 23 1916.

ΤΟ

GEORGE C. VAN TUYL, Jr.

AND

A. BARTON HEPBURN,

TO WHOM THE STATE OF NEW YORK IS INDEBTED FOR THEIR FORESIGHT AND ENERGY IN CONCEIVING AND

EXECUTING THE PRESENT

REVISION OF THE BANKING

LAWS.

[iii]

PREFACE.

The present Banking Law (chapter 369 of the Laws of 1914) was submitted to the Legislature by the Van Tuyl-Hepburn Banking Commission on February 25, 1914, introduced as a legislative bill by Senator Henry W. Pollock and Assemblyman Simon L. Adler on February 26th, unanimously passed, with slight modifications, by a Democratic Senate and a Republican Assembly on March 25th, and signed by Governor Martin H. Glynn on April 16th.

This law represents the results of the work of the Commission to Revise the Banking Law, appointed by Superintendent of Banks George C. Van Tuyl, Jr., pursuant to chapter 705 of the Laws of 1913, as amended by chapter 3 of the Laws of 1914. The Commission was composed largely of men of wide banking experience, who wisely selected as Chairman, Mr. A. Barton Hepburn. Under Mr. Hepburn's leadership, criticisms of the old law and suggestions for the revision were invited from all who were subject to the provisions of the then existing banking statutes, and from many students of financial problems. Valuable assistance was rendered to the Commission by the various State banking associations, by the State Savings and Loan Association, and by public spirited citizens who had made a special study of the problems relating to small loans. Many of the changes both of form and substance were suggested by Mr. George I. Skinner, First Deputy Superintendent of Banks, who was associated with the writer as counsel to the Commission. Mr. Skinner's exhaustive knowledge of the practical workings of our banking laws gained through an experience in the Banking Department extending over a period of seventeen years was invaluable to the Commission, and contributed largely to the united support given to the bill by the banking community of the State.

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