§ 202 — Superintendent

New York § 202

• Jurisdiction: New York
• Law FIS: Financial Services Law
• Art. 2: Organization of the Department of Financial Services

Text

§ 202. Superintendent. (a) The head of the department shall be the\nsuperintendent of financial services, who shall be appointed by the\ngovernor, by and with the advice and consent of the senate, and who\nshall hold office at the pleasure of the governor. The superintendent\nshall possess the rights, powers, and duties in connection with\nfinancial services and protection in this state, expressed or reasonably\nimplied by this chapter or any other applicable law of this state.\n (b) The superintendent may, in the superintendent's discretion,\ndesignate one of the superintendent's deputies to act as superintendent\nduring the superintendent's absence or inability to act. If the office\nof superintendent is vacant, or if the superintendent's absence or\ninability to act continues for a period of more than thirty successive\ndays, the governor may designate a deputy to act as superintendent until\nthe filling of the vacancy or the return or recovery of the\nsuperintendent.\n (c) Whenever in this chapter, the banking law, the insurance law or\nany other law the superintendent is authorized but not required to take\nany action or the superintendent's approval is required as a condition\nprecedent to the doing of any act, the taking of such action and the\ngiving of such approval shall be within the superintendent's sound\ndiscretion. In taking any action with respect to any banking\norganization, and in approving or disapproving any application made by a\nbanking organization, the superintendent shall give due consideration to\nthe policy of the state of New York as set forth in section ten of the\nbanking law.\n