N.Y. Banking Law Section 201-B
Fiduciary powers of foreign banking corporations

Every foreign banking corporation licensed pursuant to article 2 (Department of Financial Services)article two of this chapter to maintain one or more branches or agencies in this state, and holding an authorization certificate issued pursuant to this section may, subject to such further limitations and restrictions as the superintendent may prescribe, exercise the powers described in sections one hundred, one hundred-a, one hundred-b and one hundred-c of this chapter to the same extent, and subject to the same requirements and restrictions and effect as apply in the case of trust companies in the exercise of such powers. The superintendent shall, within sixty days of the receipt by him of a request for such authorization, issue to a foreign banking corporation licensed pursuant to article 2 (Department of Financial Services)article two of this chapter to maintain one or more branches or agencies in this state, a certificate of authorization to exercise the fiduciary powers referred to in this section at all or at any one or more of its authorized branches or agencies, if he shall be satisfied that such powers will be exercised in accordance with the requirements of this chapter. The superintendent may, after giving notice of the contemplated action and reasonable opportunity to be heard, revoke any such certificate of authorization if he shall find that a foreign banking corporation so authorized has failed to conform to any requirement of this chapter relating to the conduct of such business. Such revocation may apply to one or more of the authorized branches or agencies of a foreign banking corporation.

Source: Section 201-B — Fiduciary powers of foreign banking corporations, https://www.­nysenate.­gov/legislation/laws/BNK/201-B (updated Sep. 22, 2014; accessed Oct. 26, 2024).

200
When foreign banking corporation may transact business in this state 200‑A
Actions maintained by a foreign banking corporation 200‑B
Actions maintained against foreign banking corporation 200‑C
Maintenance of books, accounts and records 201
Conditions to be complied with by foreign banking corporations applying for initial license 201‑A
Rights and privileges of foreign banking corporation under license 201‑B
Fiduciary powers of foreign banking corporations 201‑C
Notice of acquisition of control or merger 202
Rates of interest 202‑A
Restrictions on receiving deposits 202‑B
Maintenance of assets in this state 202‑C
Reserves against deposits 202‑D
Foreign banking corporation may not maintain both agencies and branches in this state 202‑F
Restrictions on loans, purchases of securities and total liabilities of any one person to New York branch or agency of foreign bank 202‑G
Succession to agency by branch and to branch by agency 202‑H
Repayment of deposits standing in the names of minors, trustees, joint depositors or custodians 202‑I
Safe deposit business of branches 202‑J
Power to act as trustee under self-employed retirement trust or individual retirement trust 203
Change of location, name or business 204
Reports of foreign banking corporations 204‑A
Payment of claims by foreign banking corporations where adverse claim is asserted 206
Termination of existence 207
Service of process on unlicensed corporation formed under laws other than the statutes of this state 208
Nondiscriminatory treatment of insured state banks and national banks 209
Restrictions on executive officers of foreign banking corporations and national banks
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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 201-B’s source at nysenate​.gov

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