§ 200-B — Actions maintained against foreign banking corporation; residents; foreign corporations, foreign banking corporations as non-residents

New York § 200-B

• Jurisdiction: New York
• Law BNK: Banking
• Art. 5: Foreign Banking Corporations and National Banks

Text

§ 200-b. Actions maintained against foreign banking corporation;\n residents; foreign corporations, foreign banking corporations\n as non-residents.\n 1. An action or special proceeding against a foreign banking\ncorporation may be maintained by a resident of this state for any cause\nof action. For purposes of this subdivision one, the term "resident of\nthis state" shall include any corporation formed under any law of this\nstate.\n 2. Except as otherwise provided in this chapter, an action or special\nproceeding against a foreign banking corporation may be maintained by\nanother foreign corporation or foreign banking corporation or by a\nnon-resident in the following cases only:\n (a) where the action is brought to recover damages for the breach of a\ncontract made or to be performed within this state, or relating to\nproperty situated within this state at the time of the making of the\ncontract;\n (b) where the subject matter of the litigation is situated within this\nstate;\n (c) where the cause of action arose within this state, except where\nthe object of the action or special proceeding is to affect the title of\nreal property situated outside this state;\n (d) where the action or special proceeding is based on a liability for\nacts done within this state by a foreign banking corporation;\n (e) where the defendant is a foreign banking corporation doing\nbusiness in this state.\n 3. The limitations contained in subdivision two do not apply to a\ncorporation formed and existing under the laws of the United States and\nwhich maintains an office in this state.\n