N.Y. Banking Law Section 105-B
Trust offices

1.

A trust company may establish or acquire and maintain one or more trust offices anywhere in this state, or outside the state of New York, either in the United States or in foreign countries.

2.

A trust company seeking to establish or acquire and maintain a trust office shall submit a written notice to the superintendent describing the proposed activities and such other information as the superintendent shall request. The notice shall be accompanied by an investigation fee as prescribed pursuant to § 18-A (Application fees)section eighteen-a of this chapter.

3.

The trust office may commence operation thirty days after the superintendent receives such notice, unless the superintendent notifies the trust company in writing within such time period that the office may not commence operation or that additional information or time is required for the superintendent to consider such notice.

4.

The superintendent may deny approval of the trust office if the superintendent finds that the maintenance of such office would not be consistent with the goals set forth in the declaration of policy contained in § 10 (Declaration of policy)section ten of this chapter.

Source: Section 105-B — Trust offices, https://www.­nysenate.­gov/legislation/laws/BNK/105-B (updated Sep. 22, 2014; accessed Oct. 26, 2024).

94
Change from bank to trust company 96
General powers 96‑A
Servicing of mortgages by banks 96‑B
Payroll payment by banks or trust companies 96‑C
Power to act as trustee under self-employed retirement trust or individual retirement trust 96‑D
Banking development districts 97
Power to purchase securities and stocks 98
Power to take and hold real estate 98‑A
Club accounts 100
Fiduciary powers 100‑A
Fiduciary capacities 100‑B
Investments as fiduciary 100‑C
Common trust funds 100‑D
Foreign common trust funds 101
Additional powers of certain trust companies 102
Powers of specially chartered trust companies 102‑A
Limited liability trust companies 103
Restrictions on loans, purchases of securities and total liabilities to bank or trust company of any one person 104
Entries in books 105
Branch offices 105‑A
Electronic facilities 105‑B
Trust offices 106
Deposits by banks and trust companies with other banking corporations and private bankers 107
Reserves against deposits 107‑A
Security for public deposits 108
Rates of interest 108‑A
Acceptance of United States currency 109
Closing of books 110
Surplus fund 111
Profits 112
Dividends 113
Change of location 114
Assessment of stockholders to make good impairment of capital stock 121
Reports to directors 122
Examinations of banks and trust companies by directors 123
Reports of directors’ examinations 124
Communications from department of financial services to be submitted to directors and noted in minutes 125
Reports to superintendent 128
Preservation of books and records 129
Requirement of notice on withdrawal of certain time deposits 129‑A
Requirement of written notification 130
Restrictions on officers, directors and employees 131
Prohibitions against encroachments upon certain powers of banks and trust companies 132
Use of sign, or words, indicating bank or trust company by unauthorized persons prohibited 133
Use of banking institution name 134
Repayment of deposits standing in the names of minors, trustees or joint depositors 136
Change of national banking association into state bank by conversion or merger 136‑A
Purchase of assets of national banking association by bank or trust company 136‑B
Approval of superintendent 136‑C
Effect of merger or conversion of national banking association into state bank 137
Change of state bank into national banking association by conversion, merger or consolidation 138
Foreign branches 139
Saving clause 140‑A
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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 105-B’s source at nysenate​.gov

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