N.Y. Banking Law § 447-D Conversion of Mutual Holding Company Into Stock Holding Company

• Library: New York Statutes
• Edition: 2023
• Currency: Current through 2023 NY Law Chapter 682

1. If approved by the superintendent, a mutual holding company may convert to a stock holding company in accordance with general regulations promulgated by the superintendent of financial services.

2. If approved by the superintendent, the mutual holding company shall submit the plan of conversion to its shareholders for approval at a meeting convened for that purpose in accordance with such regulations. The provisions of paragraphs (a), (b), (c) and (d) of subdivision three of section four hundred forty-seven-a of this article shall apply to such meeting. For the pur...

(a) was organized as a result of the reorganization of a mutual savings and loan association as provided in section four hundred forty-seven of this article; and