N.Y. Banking Law Section 201-C
Notice of acquisition of control or merger

1.

A foreign banking corporation licensed pursuant to article 2 (Department of Financial Services)article two of this chapter to maintain a branch or agency in this state shall file with the superintendent a notice, in such form and containing such information as the superintendent may prescribe, no later than fourteen calendar days after such foreign banking corporation becomes aware of any acquisition of control of such corporation or merges with another foreign banking corporation.

2.

Control, for purposes of this section, means any person or entity, or group of persons or entities acting in concert, directly or indirectly, owning, controlling or holding with power to vote, twenty-five percent or more of any class of voting stock of such foreign banking corporation, or having the ability in any manner to elect a majority of the directors of such foreign banking corporation, or otherwise exercising a controlling influence over the management and policies of such foreign banking corporation as defined by the superintendent by regulation.

Source: Section 201-C — Notice of acquisition of control or merger, https://www.­nysenate.­gov/legislation/laws/BNK/201-C (updated Sep. 22, 2014; accessed Apr. 20, 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
Green check means up to date. Up to date

Accessed:
Apr. 20, 2024

Last modified:
Sep. 22, 2014

§ 201-C’s source at nysenate​.gov

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