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New York Consolidated Laws, Banking Law - BNK § 577. Interpretation of article

Current as of January 01, 2026 | Updated by Findlaw Staff

This article does not affect:  (1) the inclusion of amounts for insurance in retail instalment contracts or obligations in accordance with the motor vehicle retail instalment sales act   1 or the retail instalment sales act;  2  (2) the inclusion of amounts for insurance in retail lease agreements in accordance with the motor vehicle retail leasing act;  or (3) the making of loans for the purpose of financing insurance premiums:

(a) By any person at a rate of interest not greater than the rate prescribed by the superintendent of financial services pursuant to section fourteen-a of this chapter, or, if no rate has been so prescribed, six per centum per annum;  or

(b) By a lending institution in accordance with the applicable provisions of other laws authorizing and regulating the making of loans by the lending institution.

1 Personal Property Law § 301 et seq.
2 Personal Property Law § 401 et seq.
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Cite this article: FindLaw.com - New York Consolidated Laws, Banking Law - BNK § 577. Interpretation of article - last updated January 01, 2026 | https://codes.findlaw.com/ny/banking-law/bnk-sect-577/

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