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This entry was published on 2014-09-22
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SECTION 28-A
Temporary change of location; approval or refusal; certificate
Banking (BNK) CHAPTER 2, ARTICLE 2
§ 28-a. Temporary change of location; approval or refusal;
certificate. Notwithstanding any provisions of law limiting the number
of offices which may be maintained thereby, any banking organization or
foreign banking corporation may make a written application to the
superintendent for a temporary change of location of its authorized
place or one of its authorized places of business or a portion thereof
to another place within the state which shall be as near as practicable
to such authorized place of business. At the time of making the
application an investigation fee as prescribed pursuant to section
eighteen-a of this article shall be paid to the superintendent for each
temporary location for which leave to open is sought, except where (1)
the applicant would not be required to pay an investigation fee upon the
filing of an application for a change of location under provisions of
this chapter other than this section, or (2) said application is
necessitated by damage or destruction caused by flood, tidal wave,
earthquake, conflagration, tornado, hurricane, cyclone, windstorm or
other storm or such other event as shall have been declared a
catastrophe by the superintendent. If there is no reasonable objection
to such change, and if the superintendent finds that such change is
necessary or desirable during a period of construction, repair,
alteration, improvement, or reconstruction of the previously authorized
place of business, he or she shall issue a certificate under his or her
hand and the official seal of the department authorizing each such
change and specifying (a) the period during which such temporary
location may be maintained, (b) the date on or after which such change
may be made, and (c) the powers which may be exercised thereat. The
superintendent shall cause the original of such certificate to be
transmitted to the applicant, a copy to be filed in the office of the
department and a copy to be filed in the office of the clerk of the
county in which the principal office of the applicant is located. If the
superintendent shall be satisfied in any case that a change is
undesirable or inexpedient, he or she shall refuse such application and
notify the applicant of his or her determination. A temporary place of
business occupied pursuant to the provisions of this section shall be
closed as soon as practicable, and in no event later than the date
specified in its authorization certificate, unless the superintendent
shall have extended such time. The banking organization or corporation
shall notify the superintendent in writing prior to such closing as to
the date it intends to close the temporary place of business.