N.Y. Banking Law § 461 Change of Location; Establishment of Stations; Extension Or Revival of Corporate Existence

• Library: New York Statutes
• Edition: 2023
• Currency: Current through 2023 NY Law Chapter 777
• Year: 2023
• Citation: N.Y. Banking Law § 461

1. Any credit union may make a written application to the superintendent for leave to change its place of business to another place within the state of New York. The application shall state the reasons for such proposed change, and shall be accompanied by a copy of a resolution authorizing the making of the application, certified by a principal officer of the credit union to have been adopted by a vote of a majority of its entire board of directors at a meeting of such board, duly convened and held. Such change may be made upon the written approval of the superintendent. If the superintendent shall grant his certificate authorizing the change of location, as provided in article two of this chapter, the credit union may, upon or after the day specified in the certificate, remove its property and effects to the location designated therein.

2. Subject to such regulations as the superintendent may adopt, any credit union, may open and maintain within or without the state, in any locality in which a substantial portion of its actual potential membership is employed or residing, one or more stations for the conduct of its business provided that before any such station or stations shall be opened or maintained or removed to a new location: