This text of New York § 225-B (Applicability of certain sections to out-of-state banks) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 225-b. Applicability of certain sections to out-of-state banks. 1.\nExcept as otherwise provided in this section, nothing in article five or\narticle five-B of this chapter shall apply to an out-of-state bank or\nout-of-state trust company authorized to open, occupy and maintain a\nbranch pursuant to the provisions of this article or a trust office\npursuant to this article or to subdivision four of section one hundred\nthirty-one of this chapter. Any reference in this chapter (other than in\narticle five or article five-B) to a foreign bank, foreign corporation\nor foreign banking corporation shall be deemed to be a reference to an\nout-of-state bank or out-of-state trust company authorized to open,\noccupy and maintain a branch pursuant to the provisions of this article\nor a trust o
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§ 225-b. Applicability of certain sections to out-of-state banks. 1.\nExcept as otherwise provided in this section, nothing in article five or\narticle five-B of this chapter shall apply to an out-of-state bank or\nout-of-state trust company authorized to open, occupy and maintain a\nbranch pursuant to the provisions of this article or a trust office\npursuant to this article or to subdivision four of section one hundred\nthirty-one of this chapter. Any reference in this chapter (other than in\narticle five or article five-B) to a foreign bank, foreign corporation\nor foreign banking corporation shall be deemed to be a reference to an\nout-of-state bank or out-of-state trust company authorized to open,\noccupy and maintain a branch pursuant to the provisions of this article\nor a trust office pursuant to this article or to subdivision four of\nsection one hundred thirty-one of this chapter. Notwithstanding the\nforegoing, the provisions of section two hundred two-h (Repayment of\ndeposits standing in the names of minors, trustees, joint depositors or\ncustodians; interpleader in certain actions), of this chapter shall\napply with equal force and effect to out-of-state banks or out-of-state\ntrust companies authorized to open, occupy or maintain branches pursuant\nto the provisions of this article.\n 2. The provisions of section three hundred ninety-nine-a, subdivision\nthree of section one hundred thirty, subdivision two of section one\nhundred forty-three, subdivision five of section two hundred forty-seven\nand subdivision five of section three hundred ninety-nine of this\nchapter with respect to restrictions on executive officers or directors\nof foreign banking corporations and the provisions of sections twenty,\ntwenty-six, thirty, thirty-one and six hundred thirty-four, subdivisions\neleven and twelve of section six hundred five, subdivision four of\nsection six hundred six and paragraph (a) of subdivision one of section\nfourteen of this chapter, shall not apply to out-of-state banks\nauthorized to open, occupy or maintain branches pursuant to the\nprovisions of this article.\n