New York Banking Law

Sec. § 321
Change of Location; Change of Designation of Principal Office

§ 321. Change of location; change of designation of principal office. Any safe deposit company may make a written application to the superintendent for leave to change its place or one of its places of business to any place at which it could be authorized, under the provisions of this chapter, to open and maintain a branch office or for leave to change the designation of its principal office to a branch office and to change the designation of one of its branch offices to its principal office. The application shall state the reasons for such proposed change, and shall be accompanied by a copy of a resolution authorizing the making of the application, certified by a principal officer of the safe deposit company to have been adopted by vote of a majority of its entire board of directors at a meeting of such board, duly convened and held, as well as by a fee as prescribed pursuant to section eighteen-a of this chapter. If the proposed place of business is within the limits of the village, borough or city if in a city not divided into boroughs, in which the place of business sought to be changed is located, such change may be made upon the written approval of the superintendent. If the proposed place of business is beyond such limits, notice of intention to make such application, signed by a principal officer of the safe deposit company shall be published once a week for two successive weeks in a newspaper to be designated by the superintendent for the purpose, in accordance with the provisions of article two of this chapter. If the superintendent shall grant his certificate authorizing the change of location, as provided in article two of this chapter, the safe deposit company may, upon or after the day specified in the certificate, remove its property and effects to the location designated therein.

Last accessed
Dec. 13, 2016