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This entry was published on 2014-09-22
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SECTION 206
Termination of existence
Banking (BNK) CHAPTER 2, ARTICLE 5
§ 206. Termination of existence. When a foreign banking corporation
licensed pursuant to 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 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 section two hundred of this article.