§ 227 — Powers permitted to out-of-state branches of New York banks

§ 227. Powers permitted to out-of-state branches of New York banks. A\nNew York bank that opens, occupies and maintains one or more branch\noffices in any state may exercise such powers at such branch or branches\nas would be permitted at such place or places to an out-of-state state\nbank maintaining a branch or branches at such place or places with the\ntype of charter that most nearly corresponds to the charter of such New\nYork bank; provided, however, that prior to exercising in any state any\npower not permitted to be exercised by such New York bank in this state,\nit shall apply to the superintendent to exercise such power and approval\ntherefor shall be given unless the superintendent determines that the\nexercise of such power is contrary to the declaration of policy\ncontained in section ten of this chapter.\n