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N.Y. Banking Law § 225-B Applicability of Certain Sections to Out-Of-State Banks
Library | New York Statutes |
Edition | 2023 |
Currency | Current through 2023 NY Law Chapter 777 |
Year | 2023 |
Citation | N.Y. Banking Law § 225-B |
1. Except as otherwise provided in this section, nothing in article five or article five-B of this chapter shall apply to an out-of-state bank or out-of-state trust company authorized to open, occupy and maintain a branch pursuant to the provisions of this article or a trust office pursuant to this article or to subdivision four of section one hundred thirty-one of this chapter. Any reference in this chapter (other than in article five or article five-B) to a foreign bank, foreign corporation or foreign banking corporation shall be deemed to be a reference to an out-of-state bank or out-of-state trust company authorized to open, occupy and maintain a branch pursuant to the provisions of this article or a trust office pursuant to this article or to subdivision four of section one hundred thirty-one of this chapter. Notwithstanding the foregoing, the provisions of section two hundred two-h (Repayment of deposits standing in the names of minors, trustees, joint depositors or custodians; interpleader in certain actions), of this chapter shall apply with equal force and effect to out-of-state banks or out...
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