§ 94 — The superintendent of financial services

New York § 94

• Jurisdiction: New York
• Law DEA: Defense Emergency Act 1951 784/51
• Art. 7: Banking

Text

§ 94. The superintendent of financial services. 1. During a period of\nacute emergency affecting any area within this state, the superintendent\nshall have power to call meetings of the superintendent of financial\nservices created by section thirteen of the banking law upon such period\nof notice as he may deem appropriate in view of the condition of acute\nemergency and the urgency of the business to be transacted at such\nmeeting. The superintendent shall give notice of such meeting by making\nsuch reasonable efforts as in his judgment circumstances may permit to\nnotify each member of the superintendent of financial services of the\ntime and place of such meeting. Failure of any member of the\nsuperintendent of financial services to receive actual notice of such a\nmeeting shall not affect the power of the members present thereat or the\nsuperintendent to act as prescribed in subdivision two of this section.\n 2. At any meeting of the superintendent of financial services convened\nduring a period of acute emergency affecting any area within this state,\nthe members present, if three or more in number, may, by the vote of a\nmajority of such members present, take any action which the\nsuperintendent of financial services is empowered to take pursuant to\nthe banking law. If less than three members shall appear pursuant to\nnotice given by the superintendent in accordance with subdivision one of\nthis section, the superintendent may by general or specific regulation,\ndirective or order, take any action which the superintendent of\nfinancial services is empowered to take pursuant to the banking law.\n