N.Y. Banking Law Section 11
Department of financial services

  • official documents
  • destruction of documents
  • official communications

1.

The department shall be charged with the execution of the laws relating to the individuals, partnerships, corporations and other entities to which this chapter is applicable and shall exercise such powers and perform such duties as are conferred and imposed upon it by this chapter, or by any law of this state.

2.

(a) Except as specified in paragraph (b) or (c) of this subdivision, any report expressly required to be rendered to the superintendent under any provision of this chapter, any report of an examination made in accordance with any provision of this chapter, and any oath or declaration of office received by the department shall be retained in such form and for such period as the superintendent finds necessary and proper. After such period the superintendent shall recommend disposal of such material in accordance with the provisions of the arts and cultural affairs law.

(b)

Reports made in accordance with § 28-B (Credit needs of local communities)section twenty-eight-b of this article or pursuant to the rules and regulations of the superintendent promulgated in connection with assessing a banking organization’s record of performance in meeting the credit needs of local communities within the meaning of § 28-B (Credit needs of local communities)section twenty-eight-b of this article, including reports expressly required to be rendered to the superintendent and reports of examinations may be destroyed at the direction of the superintendent and in accordance with the provisions of the arts and cultural affairs law after three years from date of receipt thereof, provided any such report has first been photographed, microphotographed or otherwise reproduced. Each such reproduction shall be retained in the files of the department for a period of at least fifteen years from the date of the last received report, oath or declaration appearing thereon. After the expiration of such period, such reproduction may be destroyed at the direction of the superintendent and in accordance with the provisions of the arts and cultural affairs law. Such reproduction thereof shall be deemed, for any purpose, the equivalent of the original of such report. Any such report not so reproduced shall be retained in the files of the department for a period of at least fifteen years from the date of receipt thereof, after which it may be destroyed at the direction of the superintendent and in accordance with the provisions of the arts and cultural affairs law.

(c)

This subdivision shall not apply to any records, documents or correspondence referred to in subdivision four of § 627 (Dividends to creditors)section six hundred twenty-seven of this chapter.

4.

Any communication from the department to any person, partnership, corporation or other entity may contain a direction that such communication shall be presented to the controlling owners or principal management of such entity, members of such partnership or to the board of directors or trustees of such corporation. A communication containing such direction shall be for the purposes of this chapter an official communication. The superintendent may, in his or her discretion, notify in writing each owner or principal manager of such entity, every member of such partnership and every director or trustee of such corporation of the sending of such a communication and, in that event the notification shall state the date of such communication.

Source: Section 11 — Department of financial services; official documents; destruction of documents; official communications, https://www.­nysenate.­gov/legislation/laws/BNK/11 (updated Sep. 22, 2014; accessed Jun. 8, 2024).

10
Declaration of policy
11
Department of financial services
12‑A
Power of state chartered banking institutions to exercise the rights of counterpart federally chartered banking institutions
14
Additional powers of the superintendent
14‑A
Rate of interest
14‑B
Power of the superintendent of financial services to prescribe minimum rate of interest on mortgage escrow accounts
14‑C
Power of the superintendent of financial services to prescribe criteria for disclosure of information on savings and time accounts
14‑D
Power of the superintendent of financial services to prescribe a reasonable period of time permitting the drawing on items received for d...
14‑E
Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form
14‑F
Power of the superintendent of financial services to require the provision of basic banking services
18
Fees for copies and certifications
18‑A
Application fees
18‑B
Holocaust reparations payment fees
19
Assessments for deficiency in reserves against deposits
20
Assessments, penalties and forfeitures entitled to priority
21
Collection of assessments, penalties and forfeitures
22
Fingerprints
23
Acceptance or rejection of certificate
24
Investigation by superintendent
25
Authorization certificate
25‑A
Authority of superintendent to file organization certificate and issue authorization certificate under certain conditions
26
Licenses to foreign banking corporations
27
Exchange and examination of securities
28
Change of location
28‑A
Temporary change of location
28‑B
Credit needs of local communities
28‑BB
Credit needs of local communities
28‑C
Branch office closings
29
Branch offices
30
Unclaimed amounts
31
Index of persons entitled to unclaimed amounts
32
Insurance of deposits and share accounts
33
Reserve depositaries
34
Superintendent as attorney to accept service of process
36
Examinations
36‑A
Reports of lending by banking organizations
36‑B
Preservation of books and records
37
Reports to superintendent
37‑A
Submission of annual reports by the Holocaust claims processing office
38
Power of subpoena
39
Orders of superintendent
40
Revocation of authorization certificate or license or suspension of activities in certain cases
41
Removal of director, trustee or officer
42
Official acts of superintendent and details of department business to be made public
44
Violations
44‑A
Violations and penalties
45
Export finance awareness program

Accessed:
Jun. 8, 2024

Last modified:
Sep. 22, 2014

§ 11’s source at nysenate​.gov

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