Legislation

Search OpenLegislation Statutes

previous
  • SECTION 202-C
    Reserves against deposits
    • up
  • ARTICLE 5
    Foreign Banking Corporations and National Banks
    • next
  • SECTION 202-F
    Restrictions on loans, purchases of securities and total liabilities of any one person to New York branch or agency of foreign bank
    • Viewing most recent revision (from 2014-09-22)

    SECTION 202-D

    Foreign banking corporation may not maintain both agencies and branches in this state

    Banking (BNK) CHAPTER 2, ARTICLE 5

    § 202-d. Foreign banking corporation may not maintain both agencies
    and branches in this state. No foreign banking corporation licensed to
    maintain one or more agencies in this state shall be licensed to
    maintain a branch in this state except upon termination of the operation
    of such agency or agencies; and no foreign banking corporation licensed
    to maintain one or more branches in this state shall be licensed to
    maintain an agency in this state except upon termination of the
    operation of such branch or branches.