§ 26 — Licenses to foreign banking corporations; renewal

New York § 26

• Jurisdiction: New York
• Law BNK: Banking
• Art. 2: Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers

Text

§ 26. Licenses to foreign banking corporations; renewal. Upon receipt\nof an application in proper form of any foreign banking corporation for\nleave to do business in this state under the provisions of article five\nof this chapter, the superintendent, if he or she shall find after\ninvestigation and examination of what he or she deems to be the best\nsources of information that the character, responsibility and general\nfitness of the person or persons named in such application are such as\nto command confidence and warrant belief that the business of such\nforeign banking corporation will be honestly and efficiently conducted\nin accordance with the intent and purpose of this chapter and that the\npublic convenience and advantage will be promoted by granting such\nforeign banking corporation leave to do business in this state, shall\nexecute and issue a license under the official seal of the department\nauthorizing such applicant to carry on such business at the place\ndesignated in the license. Such license shall be executed in triplicate\nand the superintendent shall cause one copy to be transmitted to the\napplicant, another to be filed in the office of the department and the\nthird to be filed in the office of the clerk of the county in which the\nplace of business designated in such license is located. A license\nissued to such foreign banking corporation pursuant to this section\nshall remain in full force and effect until surrendered or revoked.\n