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Current as of January 01, 2026 | Updated by Findlaw Staff
In case of the failure or suspension of any private banker, the claims of persons for money on deposit or delivered for transmission shall be preferred against such assets as shall be shown by the books of such private banker, or by other legal evidence, to have been derived from the investment of such moneys, or from the investment of permanent capital, such 1 claimants shall also share pro rata with other creditors in any other assets of such individual or of such partnership and of the individual members thereof.
Cite this article: FindLaw.com - New York Consolidated Laws, Banking Law - BNK § 166. Depositors preferred in case of failure or suspension - last updated January 01, 2026 | https://codes.findlaw.com/ny/banking-law/bnk-sect-166/
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