§ 383. Other powers. Every savings and loan association shall, subject
to the restrictions and limitations contained in this chapter, have the
following powers: 1. To become a member of the Savings and Loan Bank of
the State of New York; to exercise such powers as may be conferred upon
member associations of such Savings and Loan Bank; and to perform such
duties and obligations as may be lawfully required of such member
associations.

2. To become a member of a federal home loan bank; and to have and to
exercise all powers, not in conflict with the laws of this state, which
are conferred upon any such member by the federal home loan bank act.
Such savings and loan association and its directors and officers shall
continue to be subject, however, to all liabilities and duties imposed
upon them by any law of this state and to all provisions of this chapter
relating to savings and loan associations.

3. To assume and discharge such obligations to Federal Deposit
Insurance Corporation as may be necessary or required for the purpose of
maintaining share insurance in such corporation.

4. To receive money for transmission and to transmit such money, and
to sell money orders and travel checks as agent for any corporation,
association or joint stock company empowered to sell such instruments
through agents in the state of New York.

5. To service mortgages for others, and to render investment advice
incidental to the purchase of and investment in mortgages by others,
provided, however, that the superintendent of financial services shall
have power to prescribe, by specific or general regulation, the extent
to which and the conditions upon which such mortgages may be serviced
and such investment advice may be rendered.

6. To service mortgages or to perform other services for the Federal
National Mortgage Association created under the housing act of nineteen
hundred fifty-four, as amended from time to time, and to sell or assign
mortgages to such association and in connection therewith to make
capital contributions thereto, purchase stock thereof, and do any and
all other acts which under the laws and regulations applicable to such
sales may be required to enable such sales to be effected.

7. To sue and to be sued in all courts and to participate in actions
and proceedings, whether judicial, arbitrative or otherwise, in like
cases as natural persons.

8. To have a corporate seal, and to alter such seal at pleasure, and
to use it by causing it or a facsimile to be affixed or impressed or
reproduced in any other manner.

9. To make donations, irrespective of corporate benefit, for the
public welfare or for community fund, hospital, charitable, educational,
scientific, civic or similar purposes, and in time of war or other
national emergency in aid thereof.

10. To elect or appoint officers, employees and other agents of the
savings and loan association, define their duties, fix their
compensation, and to indemnify corporate personnel.

11. To have perpetual existence.

12. To execute and deliver such guaranties as may be incidental or
usual in the transfer of investment securities.

13. To receive and repay demand deposits subject to those provisions
applicable to such deposits, in the case of savings banks under section
two hundred thirty-seven of this chapter, including, subject to
regulation by the superintendent of financial services, the power to
charge for maintaining a demand deposit account or for honoring checks
drawn on or accepting deposits made to such an account.

The superintendent of financial services shall have the power to
prescribe by regulation (a) the maximum charge which may be imposed in
this state by a savings and loan association in connection with a check
or other written order drawn upon it on insufficient funds, irrespective
of whether the instrument is paid, accepted or returned by the bank, and
(b) the maximum charge which may be imposed in this state by a savings
and loan association in connection with a check or other written order
received by it for deposit or collection and subsequently dishonored and
returned for any reason by the drawee.

14. To have and exercise all other powers necessary or appropriate in
conducting the business of a savings and loan association.

15. Subject to such regulations as the superintendent of financial
services finds to be necessary and proper, and notwithstanding any other
provision of law, to accept federal tax and loan accounts, the balance
of which are payable on demand without previous notice of intended
withdrawal and to pledge collateral to secure such accounts.

16. Subject to any limitations or other specific provisions contained
in this chapter or any other statute of this state or its organization
certificate, and as shall be appropriate in conducting the business of
the corporation, and only for such activities which are authorized by
this chapter for savings and loan associations: to be a promoter,
partner, member, associate or manager of other business enterprises or
ventures, or to the extent permitted in any other jurisdiction to be an
incorporator of other corporations of any type or kind.

17. To engage in a "savings promotion" in accordance with section
nine-v of this chapter and subject to any regulations promulgated by the
superintendent. The superintendent shall consult with the state gaming
commission before proposing any such regulations or any amendments
thereto. Such regulations shall ensure that:

a. no participant in a savings promotion is charged any fee that would
constitute, directly or indirectly, consideration for participation in
such savings promotion; and

b. no participant in a savings promotion foregoes, directly or
indirectly, any interest that would constitute consideration for
participation in such savings promotion.