§ 28 — Change of location; change of designation of principal office; approval or refusal; certificate

New York § 28

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

Text

§ 28. Change of location; change of designation of principal office;\napproval or refusal; certificate. Upon receipt by the superintendent of\na written application in proper form from any banking organization or\nforeign corporation for leave to change its place or one of its places\nof business to another place or from any banking organization for leave\nto change the designation of its principal office to a branch office and\nto change the designation of one of its branch offices to its principal\noffice, the superintendent shall, if he or she shall be satisfied that\nsuch change may be permitted under the terms of this chapter and that\nthere is no reasonable objection to such change, execute and issue a\ncertificate under the official seal of the department authorizing such\nchange and specifying the date on or after which such change may be\nmade, and shall cause the original of such certificate to be transmitted\nto the applicant, a copy to be filed in the office of the department and\na copy to be filed in the office of the clerk of the county in which the\nprincipal office of the applicant is located, provided that if the\nproposed principal office is in a different county than the county in\nwhich the principal office is located at the time of the filing of the\napplication, the superintendent shall cause copies to be filed in the\noffices of the clerks of both counties. If the superintendent shall be\nsatisfied in any case that such change is undesirable or inexpedient, he\nor she shall refuse such application and notify the applicant of such\ndetermination.\n