§ 600 — Merger; when authorized

New York § 600

• Jurisdiction: New York
• Law BNK: Banking
• Art. 13: Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation

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§ 600. Merger; when authorized. The following mergers are hereby\nauthorized:\n (1) One or more corporations organized under the laws of this state\nand subject to the provisions of article three, article eight, article\neleven or article twelve of this chapter with another corporation\nsubject to the provisions of the same article.\n (2) One or more mutual savings banks with another mutual savings bank.\n (3) One or more mutual savings and loan associations with another\nmutual savings and loan association.\n (4) One or more mutual savings and loan associations with one or more\nmutual savings banks.\n (5) One or more safe deposit companies with a bank or trust company.\n (6) One or more banks, trust companies, stock-form savings banks or\nstock-form savings and loan associations, with one or more out-of-state\nbanks or out-of-state trust companies as such terms are defined in\nsection two hundred twenty-two of this chapter.\n (7) One or more subsidiaries or affiliates of a bank, trust company,\nsavings bank or savings and loan association, which are not a bank,\ntrust company, savings bank or savings and loan association, as those\nterms are defined in section two of this chapter, with the bank, trust\ncompany, savings bank or savings and loan association of which it is a\nsubsidiary or affiliate, as the superintendent of financial services\nshall approve and enter on its records; provided, however, that nothing\nin this subdivision shall be deemed to authorize a bank, trust company,\nsavings bank or savings and loan association to exercise any power or\nengage in any activity that it may not exercise or engage in pursuant to\nthis chapter. The superintendent of financial services may promulgate\nsuch regulations as he or she deems necessary and proper to implement\nand define the provisions of this subdivision. Nothing in this\nsubdivision shall alter, affect or impair any regulation or resolution\nadopted, or that may be adopted, by the superintendent of financial\nservices, pursuant to section twelve-a or former sections fourteen-g or\nfourteen-h of this chapter.\n (8) Such other mergers between and among banking institutions as the\nsuperintendent of financial services may authorize. The superintendent\nmay promulgate such regulations as he or she deems necessary and proper\nto implement and define the provisions of this paragraph.\n