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This entry was published on 2014-09-22
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SECTION 105-B
Trust offices
Banking (BNK) CHAPTER 2, ARTICLE 3
§ 105-b. Trust offices. 1. A trust company may establish or acquire
and maintain one or more trust offices anywhere in this state, or
outside the state of New York, either in the United States or in foreign
countries.

2. A trust company seeking to establish or acquire and maintain a
trust office shall submit a written notice to the superintendent
describing the proposed activities and such other information as the
superintendent shall request. The notice shall be accompanied by an
investigation fee as prescribed pursuant to section eighteen-a of this
chapter.

3. The trust office may commence operation thirty days after the
superintendent receives such notice, unless the superintendent notifies
the trust company in writing within such time period that the office may
not commence operation or that additional information or time is
required for the superintendent to consider such notice.

4. The superintendent may deny approval of the trust office if the
superintendent finds that the maintenance of such office would not be
consistent with the goals set forth in the declaration of policy
contained in section ten of this chapter.