N.Y. Banking Law § 680-g

§ 680-g. Property interest of depositor or beneficiary. 1. Neither a\ndepositor nor a beneficiary has a property interest in a special\ndeposit.\n 2. Any property interest with respect to a special deposit is only in\nthe right to receive payment if the bank is obligated to pay a\nbeneficiary and not in the special deposit itself. Any property interest\nunder this subdivision shall be subject to the provisions of this\nchapter and to rules and regulations made in accordance therewith.\n