N.Y. Banking Law Section 202-G
Succession to agency by branch and to branch by agency


Notwithstanding any other provision of this chapter, the superintendent may, subject to such regulations as he may adopt, authorize the conversion of a foreign banking corporation agency to a branch or the conversion of a foreign banking corporation branch to an agency. When a foreign banking corporation shall be licensed to conduct in this state a branch in lieu of an agency theretofore conducted by it or to conduct an agency in this state in lieu of a branch theretofore conducted by it, the preceding form of organization shall, with the approval of the superintendent, be converted into the succeeding form of organization of such foreign banking corporation and all of the liabilities of such foreign banking corporation previously payable at the office where such preceding form of organization shall have been conducted shall thereafter be payable at the office of the successor form of organization. In the event that the successor form of organization shall succeed to assets in which it would not have had legal power to invest in its successor form, or, in the event the successor form of organization shall succeed to liabilities which the successor form of organization would not have had power to incur, it shall liquidate such assets or liabilities within the next succeeding twelve calendar months unless the superintendent shall, in his discretion, extend such period of time in the interest of the orderly conduct of such branch or agency.

Source: Section 202-G — Succession to agency by branch and to branch by agency, https://www.­nysenate.­gov/legislation/laws/BNK/202-G (updated Sep. 22, 2014; accessed Jun. 22, 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

Accessed:
Jun. 22, 2024

Last modified:
Sep. 22, 2014

§ 202-G’s source at nysenate​.gov

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