N.Y. Real Prop. Acts. Law § 129

§ 129. No deposit agreement shall be valid or binding which does not\nset forth the following provisions for the protection of the\nbondholders:\n (a) That the fees of the members of the committee, the assignee or the\nother person or persons to whom the deposit agreement was given, as the\ncase may be, shall be reasonable and subject to the approval of the\ncourt.\n (b) That the deposit agreement may not be amended without the approval\nof the court.\n (c) That the mortgage investments deposited thereunder may not be\nsold, pledged or otherwise disposed of without the unanimous consent of\nthe depositing bondholders or, in lieu thereof, the approval of the\ncourt.\n (d) No deposit agreement shall be valid or binding or confer any\nrights whatever upon any member of a committee, assignee or other person\nto whom the agreement was given, who has any financial interest directly\nor indirectly in the depositary named or to be named by such committee,\nassignee or other person, and no person shall act for a bondholder or a\ndeposit agreement who has such an interest.\n