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Form a Business

Fund for current needs.

NYC Admin. Code § 13-340
in effect
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§ 13-340 Fund for current needs. For the purpose of meeting, in relation to original plan members, disbursements for retirement allowances and other payments, and for the purpose of meeting, in relation to improved benefits plan members, disbursements for pensions, pensions-providing-for-increased-take-home-pay, annuities and other payments, there may be kept an available fund, not exceeding ten per cent of the total amount in the several funds provided for by this subchapter, on deposit in any bank in this state organized under the laws thereof or under the laws of the United States, or in any trust company incorporated by any law of this state, provided such bank or trust company shall furnish adequate security for such fund, and further provided that the sum deposited in any one bank or trust company shall not exceed twenty-five per cent of the paid-up capital and surplus of such bank or trust company.
Source: City of New York, Charter, Administrative Code and Rules (American Legal Publishing XML export, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/newyorkcity/latest/NYCadmin/0-0-0-21480Fetched: 10/24/2026

Starting a business in New York? New York LLC guide: costs and requirements

13-340 | Corpus