N.Y. Banking Law Section 206
Termination of existence

When a foreign banking corporation licensed pursuant to article 2 (Department of Financial Services)article two of this chapter is dissolved or its authority or existence is otherwise terminated or cancelled in the jurisdiction of its incorporation, a certificate of the superintendent of financial services, or official performing the equivalent function as to records of banking corporations, of the jurisdiction of incorporation of such foreign banking corporation attesting to the occurrence of any such event or a certified copy of an order or decree of a court of such jurisdiction directing the dissolution of such foreign banking corporation, the termination of its existence or the cancellation of its authority shall be delivered to the superintendent. The filing of the certificate, order or decree shall have the same effect as the revocation of its license under § 40 (Revocation of authorization certificate or license or suspension of activities in certain cases)section forty of this chapter. The superintendent shall continue as agent of the foreign banking corporation upon whom process against it may be served in any action or special proceeding based upon any liability or obligation incurred by the foreign banking corporation within this state prior to the filing of such certificate, order or decree and he shall promptly cause a copy of such process to be mailed by registered mail, return receipt requested, to such foreign corporation at the post office address on file in his office specified for such purpose. The post office address may be changed in the manner provided in § 200 (When foreign banking corporation may transact business in this state)section two hundred of this article.

Source: Section 206 — Termination of existence, https://www.­nysenate.­gov/legislation/laws/BNK/206 (updated Sep. 22, 2014; accessed May 24, 2025).

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:
May 24, 2025

Last modified:
Sep. 22, 2014

§ 206’s source at nysenate​.gov

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