Ask Reggi Your Question Now
Can you summarize 3 NYCRR Part 100?
General Regulations of the Superintendent > Personal Property Leasing Activities of Banks and Trust Companies
Short Summary
This legal document, part of the New York Codes, Rules and Regulations, specifically governs the Personal Property Leasing Activities of Banks and Trust Companies. It defines the term ’net-lease’ as a lease where the bank or trust company is not obligated to provide certain services or provisions related to the leased property. It also defines a ‘full-payout lease’ as a lease where the lessor can expect to recover their full investment in the leased property, including financing costs and estimated residual value. The document does not mention any exemptions or penalties. Overall, it provides regulations and definitions related to leasing activities of banks and trust companies in New York.
Whom does it apply to?
Banks and trust companies
What does it govern?
Personal Property Leasing Activities of Banks and Trust Companies
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
New York