§ 461. Change of location; establishment of stations; extension or\nrevival of corporate existence.
1.Any credit union may make a written\napplication to the superintendent for leave to change its place of\nbusiness to another place within the state of New York. The application\nshall state the reasons for such proposed change, and shall be\naccompanied by a copy of a resolution authorizing the making of the\napplication, certified by a principal officer of the credit union to\nhave been adopted by a vote of a majority of its entire board of\ndirectors at a meeting of such board, duly convened and held. Such\nchange may be made upon the written approval of the superintendent. If\nthe superintendent shall grant his certificate authorizing the change of\nlocation, as provided in article t
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§ 461. Change of location; establishment of stations; extension or\nrevival of corporate existence. 1. Any credit union may make a written\napplication to the superintendent for leave to change its place of\nbusiness to another place within the state of New York. The application\nshall state the reasons for such proposed change, and shall be\naccompanied by a copy of a resolution authorizing the making of the\napplication, certified by a principal officer of the credit union to\nhave been adopted by a vote of a majority of its entire board of\ndirectors at a meeting of such board, duly convened and held. Such\nchange may be made upon the written approval of the superintendent. If\nthe superintendent shall grant his certificate authorizing the change of\nlocation, as provided in article two of this chapter, the credit union\nmay, upon or after the day specified in the certificate, remove its\nproperty and effects to the location designated therein.\n 2. Subject to such regulations as the superintendent may adopt, any\ncredit union, may open and maintain within or without the state, in any\nlocality in which a substantial portion of its actual potential\nmembership is employed or residing, one or more stations for the conduct\nof its business provided that before any such station or stations shall\nbe opened or maintained or removed to a new location:\n (a) Its board of directors shall submit to the superintendent a\nwritten application setting forth the reasons therefor and the proposed\nlocation of such station or stations.\n (b) The superintendent shall have given his written approval thereto.\n 3. Every application submitted under either subdivision one or two of\nthis section shall be accompanied by an investigation fee as prescribed\npursuant to section eighteen-a of this chapter.\n 4. By votes cast by a majority of the shareholders of record entitled\nto vote at a meeting called for the purpose, a credit union, not having\nperpetual existence, may extend its duration, or, if it ceased to exist\nbecause of the expiration of the duration specified in its organization\ncertificate, may revive its existence. Such resolution shall be\ntransmitted to the superintendent, who shall issue, under his hand and\nthe official seal of the department, in triplicate, a certificate\nsetting forth the duration of the credit union as extended, which\ncertificates shall be transmitted and filed in the same manner as\nauthorization certificates.\n