New York State Department of Financial Services · NY
New York Disaster Guidance Letter Two
September 24, 2001
Summary
This letter instructs New York financial institutions to comply with Executive Order 113.24, which temporarily modifies UCC provisions to allow spouses and guardians access to bank funds of victims affected by the September 2001 terrorist attacks. Institutions are required to utilize a specific, streamlined Affidavit form provided by the Banking Department to facilitate these withdrawals, up to a cap of $15,000.
Industry Letters
New York Disaster - Guidance Letter 2
September 24, 2001
TO EACH INSTITUTION ADDRESSED:
RE: Serving Customers Affected by the Terrorist Attacks
I would like to alert you to certain actions taken by Governor George E. Pataki to facilitate access to bank deposits and money market funds of victims of the recent disaster by their spouses and guardians or caregivers for their minor children. Specifically, acting pursuant to Executive Order Number 113.24, issued on September 24, 2001, until further notice, Governor Pataki has acted to temporarily suspend, alter and modify Sections 4-104(1)(e), 4-405, and 8-107(a) of the New York Uniform Commercial Code to ensure that needed funds are made available to families affected by the recent disasters. The aggregate amount of funds available pursuant to these actions is limited to $15,000.
Pursuant to the Executive Order, I have issued a streamlined form of Affidavit to be used for this purpose. Financial institutions are strongly encouraged to download this form from the Banking Department's website and make copies readily available for their customers.
Financial institutions seeking additional guidance regarding the use of the above modifications may contact Sara Kelsey, Deputy Superintendent and Counsel at (212) 909-4556, Gene Brooks, Acting First Assistant Counsel at (212) 909-4596, or Steven Barras, Assistant Counsel at (914) 288-2033. A copy of the Governor's Executive Order and the prescribed form of affidavit are attached.
Very truly yours,
Elizabeth McCaul
Superintendent of Banks
Executive Order Language for Access to Bank Accounts
Spouse/Caregiver Affidavit
Source: https://www.dfs.ny.gov/industry_guidance/industry_letters/il20010924_ny_disaster_guidance_letter_two
Common questions
- What does "New York Disaster Guidance Letter Two" cover?
- This letter instructs New York financial institutions to comply with Executive Order 113.24, which temporarily modifies UCC provisions to allow spouses…
- Which agency issued this update?
- This update was issued by New York State Department of Financial Services.
- When was it published?
- It was published on September 24, 2001.
Related updates
- Mortgagee Letter 2026-03: Updates to Bidding at Foreclosure and Post-Foreclosure Sales Efforts
- Bulletin 2026-4: 2026-4
- Agreed Order
- Lakeview Loan Servicing, LLC, Pingora Loan Servicing, LLC, Community Loan Servicing, LLC, and Bayview Asset Management, LLC Multistate Settlement Agreement and Consent Order issued by the Division of Banking
- Ocwen Financial Corp. order issued by the Division of Banking and find answers to frequently asked questions. (order)
- Ocwen Financial Corp. order issued by the Division of Banking and find answers to frequently asked questions. (frequently asked questions)