Document:

Exhibit 10.9

 

INVESTMENT AGREEMENT

 

THIS INVESTMENT AGREEMENT
(this “Agreement”), dated as of June 29, 2021, is by and among (i) TortoiseEcofin Acquisition Corp. III, a Cayman
Islands exempted company (the “SPAC”), (ii) TortoiseEcofin Sponsor III LLC, a Cayman Islands limited liability company
(the “Sponsor”), and (iii) [●] (“Investor”).

 

WHEREAS, in connection with
the initial public offering (the “IPO”) of units of the SPAC, Investor has expressed an interest in acquiring up to
2,970,000 units in the IPO (the “IPO Indication”), at a price of $10.00 per unit.

 

WHEREAS, the parties wish
to enter into this Agreement pursuant to which Investor will purchase from the Sponsor Class B ordinary shares, par value $0.0001 per
share, of the SPAC (the “Founder Shares”) for the same value paid by the Sponsor, or approximately $0.003 per share.

 

NOW THEREFORE, the parties
hereto hereby agree as follows:

 

Section 1.
Sale and Purchase.

 

		(a)	In connection with the IPO Indication, and subject to the satisfaction
of the conditions set forth in Section 1(b), the Sponsor hereby agrees to sell to Investor 150,000 Founder Shares (such shares,
the “Transferred Shares”) for an aggregate purchase price of $450 (the “Transfer Price”) on the
date of the closing of the IPO, and Investor hereby agrees to purchase the Transferred Shares (the “Transfer”). Concurrently
with the Transfer, in consideration for the transfer of the Transferred Shares, Investor shall pay $450 to the Sponsor in immediately
available funds.

 

		(b)	Subject to (i) the fulfillment by Investor of the IPO Indication
(which shall include the acquisition of 100% of the units of the SPAC allocated to Investor by the underwriters in the IPO) and (ii)
Investor’s payment of the Transfer Price as contemplated by Section 1(a) of this Agreement, the Transfer shall occur and
be effective upon the closing of the IPO, automatically and without any action of any other party hereto.

 

Section 2.
Representations and Warranties of the SPAC. The SPAC hereby represents and warrants to Investor, as follows:

 

		(a)	The SPAC has full power and authority to execute and deliver this
Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby.

 

		(b)	This Agreement has been duly and validly executed and delivered
by the SPAC and constitutes a legal, valid and binding obligation of the SPAC enforceable against the SPAC in accordance with its terms.

 

		(c)	The execution and delivery of this Agreement, the consummation
of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result
in any material violation of or default under, any agreement or other instrument to which the SPAC is a party or by which the SPAC is
bound, or any decree, order, statute, rule or regulation applicable to the SPAC.

 

    

     

    

 

Section 3.
Representations and Warranties of the Sponsor. The Sponsor hereby represents and warrants to Investor, as follows:

 

		(a)	The Sponsor has full power and authority to execute and deliver
this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby.

 

		(b)	This Agreement has been duly and validly executed and delivered
by the Sponsor and constitutes a legal, valid and binding obligation of the Sponsor enforceable against the Sponsor in accordance with
its terms.

 

		(c)	The execution and delivery of this Agreement, the consummation
of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result
in any material violation of or default under, any agreement or other instrument to which the Sponsor is a party or by which the Sponsor
is bound, or any decree, order, statute, rule or regulation applicable to the Sponsor.

 

Section 4.
Representations and Warranties of Investor. Investor hereby represents and warrants to the SPAC and the Sponsor, as follows:

 

		(a)	Investor has full power and authority to execute and deliver this
Agreement and to perform its obligations hereunder.

 

		(b)	This Agreement has been duly and validly executed and delivered
by Investor and constitutes a legal, valid and binding obligation of Investor enforceable against Investor in accordance with its terms.

 

		(c)	The execution and delivery of this Agreement, the consummation
of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result
in any material violation of or default under, any agreement or other instrument to which Investor is a party or by which Investor is
bound, or any decree, order, statute, rule or regulation applicable to Investor.

 

		(d)	Investor is an “accredited investor” as that term
is defined in Regulation D promulgated under the Securities Act of 1933, as amended.

 

Section 5.
Additional Agreements and Acknowledgements of Investor.

 

		(a)	Investor agrees not to transfer, assign or sell any Transferred
Shares or the Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”), issuable upon
conversion of the Transferred Shares held by it until the earlier of (i) one year after the date the SPAC consummates a Business Combination
(as defined below) and (ii) the earlier to occur of, subsequent to a Business Combination, (A) the first date on which the last reported
sale price of the Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 120 days after the consummation
a Business Combination and (B) the date on which the SPAC consummates a subsequent liquidation, merger, share exchange or other similar
transaction which results in all of the SPAC’s shareholders having the right to exchange their Class A Ordinary Shares for cash,
securities or other property.

 

		(b)	Investor acknowledges that the SPAC was formed for the purpose
of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination
with one or more businesses or entities (a “Business Combination”). Investor agrees that if the SPAC seeks shareholder
approval of a proposed Business Combination, then in connection with such proposed Business Combination, Investor shall vote all Founder
Shares in favor of such proposed Business Combination.

 

    2

     

    

 

		(c)	Investor acknowledges that it is aware the SPAC will establish
a trust account (the “Trust Account”) for the benefit of its public shareholders upon the closing of the IPO. Investor
agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of
the SPAC as a result of any liquidation of the SPAC with respect to the Transferred Shares.

 

		(d)	In connection with the IPO, the SPAC shall enter into a registration
rights agreement (the “Registration Rights Agreement”) with the Sponsor, Investor and certain other parties thereto.
The Registration Rights Agreement shall provide Investor with registration rights with respect to the Transferred Shares that are no
less favorable to Investor than the registration rights of the Sponsor set forth therein.

 

Section 6.
Miscellaneous.

 

		(a)	This Agreement shall be governed by the internal laws (and not
the law of conflicts) of the State of New York.

 

		(b)	This Agreement may not be amended, modified or waived without
the written consent of the parties hereto.

 

		(c)	The rights and obligations under this Agreement may not be assigned
by any party hereto without the prior written consent of the other parties.

 

		(d)	From time to time, at the reasonable request of any of the other
parties hereto, each party hereto shall execute and deliver such additional documents and instruments and take such further lawful action
as may be necessary to consummate and make effective, in the most expeditious manner practicable, the transactions contemplated by this
Agreement.

 

		(e)	Any term or provision of this Agreement which is invalid or unenforceable
shall be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining rights
of the person intended to be benefited by such provision or any other provisions of this Agreement.

 

		(f)	This Agreement may be executed in two or more counterparts, each
of which shall constitute an original, and all of which taken together shall constitute one and the same instrument. Any signature page
delivered by a facsimile machine or electronic mail shall be binding to the same extent as an original signature page.

 

* * * * *

 

    3

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this Agreement as of the date first written above.

 

	 	INVESTOR:
	 	 
	 	[●]	 
	 	 	 
	 	By:	 
	 	Name:	[●]
	 	Title:	[●]

 

	 	SPAC:
	 	 
		TORTOISEECOFIN ACQUISITION CORP. III
	 	 	 
	 	By:	 
	 	Name:	Vincent T. Cubbage
	 	Title:	Chief Executive Officer

 

	 	SPONSOR:
	 	TORTOISEECOFIN SPONSOR III LLC
	 	By: TORTOISEECOFIN BORROWER LLC, its managing member
	 	 	 
	 	By:	 
	 	Name:	Michelle Johnston
	 	Title:	Chief Financial Officer

 

Signature Page to Investment Agreement

 

 

4Exhibit 10.1

 

 

NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES

________________________________________________________

In the Matter of 

 

CHEMUNG CANAL TRUST COMPANY

 

Respondent.

_______________________________________________________

 

 

CONSENT ORDER UNDER

NEW YORK BANKING LAW §§ 9-D and 39

 

 

 

The New York State Department of Financial Services
(the “Department”) and Chemung Canal Trust Company (“Chemung” or the “Bank”) are willing to resolve
the matters described herein without further proceedings.

 

WHEREAS, Chemung is a New York State chartered
banking institution that maintains twenty-nine branch locations in twelve counties throughout upstate New York, as well as two branch
locations in Bradford County, Pennsylvania, and is supervised by the Department;

 

WHEREAS, Chemung has approximately $2.3 billion
in assets and $2.1 billion in deposits as of December 31, 2020;

 

WHEREAS, the Department conducted an investigation
into Chemung’s underwriting and pricing of retail installment contracts that the Bank purchased from automobile dealers (known as
“indirect automobile loans”) during the time period of January 1, 2016 through August 31, 2020 (the “Relevant Time Period”);

 

WHEREAS, the Department’s investigation
determined that during the Relevant Time Period, the indirect automobile loans purchased from automobile dealerships by Chemung included
a Dealer Markup that resulted in certain Hispanic borrowers having a higher interest rate than the average non-Hispanic white borrowers;

 

     

     

    

WHEREAS, the Department and Chemung are willing
to resolve the matters cited herein in lieu of proceeding by notice and a hearing;

 

NOW THEREFORE, to resolve this matter without
further proceedings, the Department finds as follows:

 

THE DEPARTMENT’S FINDINGS

 

Background

 

1.                 
Consumers finance the purchase of an automobile either directly from a bank, credit union, or other lending company, or through
indirect lending, where financing is provided through an automobile dealer partnered with one or multiple lenders.

 

2.                 
Chemung engages in indirect automobile lending, working in conjunction with multiple automobile dealers to provide financing to
automobile purchasers that are presented to Chemung by the automobile dealers.

 

3.                 
In connection with indirect automobile lending, automobile dealers collect certain information of prospective borrowers and decide
which applications to submit to Chemung on behalf of those borrowers.

 

4.                 
Chemung typically provides automobile dealers with the terms, including a specified minimum interest rate (the “Buy Rate”),
by which Chemung agrees to immediately purchase loans from the automobile dealers.

 

5.                 
Chemung participates in the decision to extend credit by: taking responsibility for underwriting; determining the Buy Rate using
an underwriting and risk-based pricing model; and communicating those terms to the automobile dealers. Chemung’s Buy Rate reflects
the minimum interest rate at which the Bank will finance or purchase the loan from automobile dealers.

 

     

     

    

6.                 
Chemung maintains a policy or practice provides automobile dealers with the discretion to mark-up prospective borrowers’
interest rates above the Bank’s Buy Rate. The difference between a consumer’s interest rate on the retail installment contract
and the risk-based Buy Rate is known as the “Dealer Markup”.

 

7.                 
In each case, an automobile dealer’s compensation is based on the difference in projected interest revenue between the Buy
Rate and the actual interest rate assigned to the consumer. The difference between the Buy Rate and a consumer’s interest rate on
the retail installment contract is known as the “Dealer Markup.” The Bank does not share in any automobile dealers’
Dealer Markup.

 

8.                 
During the Relevant Time Period, Chemung maintained a policy that permitted an increase in the Dealer Markup by up to 2.5% for
loans terms up to 69 months and 2.0% for loan terms over 69 months at the dealer’s sole discretion.

 

9.                 
Chemung’s Dealer Markups are based on dealer discretion and not controlled by the adjustments for creditworthiness and other
objective criteria already reflected in the Bank’s Buy Rate.

 

10.             
The Bank influences the credit decision by indicating to automobile dealers whether or not the Bank will purchase loans on the
terms specified.

 

Applicable Law

 

11.             
New York’s Fair Lending Law and the federal Equal Credit Opportunity Act (“ECOA”) prohibit discrimination against
protected class membership for the granting, withholding, extending, renewing of credit or in the fixing of interest rates, terms or conditions
of any form of credit. N.Y. Exec. L. § 296-a(1)(b); 15 U.S.C. § 1691 et seq. Creditors are permitted to price loans differently
based on objective differences in borrowers’ creditworthiness, such as “current income, assets and prior credit history .
.. . as well as reference to any other relevant factually supportable data.” N.Y. Exec. L. § 296-a(3). Chemung is a “creditor”
as the term is defined by the New York Executive Law. Id. § 292(22).

 

     

     

    

12.             
The Superintendent is authorized to enforce state and federal fair lending laws. Id. § 296-a(3), N.Y. Banking L. 9-d,
N.Y. Fin. Servs. L. § 408(a)(1)(B).

 

Findings of Fact

 

13.             
The Department analyzed the Dealer Markups of the loans that Chemung purchased from automobile dealers during the Relevant Time
Period.

 

14.             
The loans analyzed by the Department did not contain information on the race or ethnicity of borrowers. Rather, to evaluate any
differences in the Dealer Markup, the Department assigned race and ethnicity probabilities to applicants, and utilized a proxy methodology
that combines geography-based and name-based probabilities, based on public data published by the United States Census Bureau, to form
a joint probability using the Bayesian Improved Surname Geocoding (“BISG”) method. The BISG proxy probability is a commonly
accepted proxy probability method in the scientific or academic community and is used across multiple disciplines. It is known for being
more accurate than other statistical methods for approximating the overall reported distribution of race and ethnicity. The race and ethnicity
probabilities obtained through the BISG method were used by the Department to estimate any disparities in Dealer Markup on the basis of
race or ethnicity.

 

Dealer Markup Disparity as to Minority Borrowers

 

15.             
The Department’s analysis determined that, between January 1, 2016 and December 31, 2018, the Bank charged Hispanic borrowers
approximately 27 basis points (.27%) more in discretionary Dealer Markups than similarly situated non-Hispanic white borrowers. These
disparities are statistically significant and not based on creditworthiness or other objective criteria related to borrower risk.1

 

 

 

 

 

_____________________________

1 The
Dealer Markup disparities identified by the Department were statistically significant at the 95% confidence rate.

 

     

     

    

16.             
Moreover, the Department determined, that between January 1, 2019 and August 31, 2020, the Bank charged Hispanic borrowers approximately
20 basis points (.20%) more in discretionary Dealer Markups than similarly situated non-Hispanic white borrowers. These disparities are
also significant and not based on creditworthiness or other objective criteria related to borrower risk.

 

17.             
These disparities mean that, throughout the Relevant Time Period, Hispanic borrowers paid higher markups than the average non-Hispanic
white borrower and were obligated to pay more in interest than similarly situated non-Hispanic white borrowers over the life of their
loans.

 

18.             
Although the Department did not find evidence of any intentional discrimination against Hispanic borrowers on the part of the Bank
or its employees, the Bank’s policy or practice of permitting the automobile dealers to impose a Dealer Markup without any justification
on the basis of objective credit related factors above the Bank’s established Buy Rate resulted in a disparate impact on the basis
of race and ethnicity. These policies or practices were not justified by a legitimate business need.

 

The Bank’s Cooperation

 

19.             
The Department recognizes Chemung’s substantial cooperation with its investigation, through timely and appropriate responses
to request for information and the production of documents and data to the Department.

 

 

 

 

 

     

     

    

20.             
In its interactions with the Department concerning the violations at issue herein, Chemung has demonstrated a continuing interest
and commitment to addressing systemic racism in the communities it serves.

 

21.             
The Department has given appropriate weight to the cooperation and remediation efforts set forth herein in agreeing to the terms
and remedies of this Consent Order.

 

22.             
While the Department’s investigation covered the period of January 1, 2016, to August 31, 2020, the Bank agrees to remediate
any additional statistically significant differences in pricing for Hispanic borrowers that may be identified using the BISG proxy methodology
for the period of September 1, 2020 to December 31, 2020.

 

Violations of Laws and Regulations

 

23.             
The Bank, in violation of New York Executive Law § 296-a, instituted discretionary Dealer Markup policies that resulted in
disparate impacts that negatively affected members of racial and ethnic minority groups, without any justification.

 

24.             
The Bank’s specific policies and practices were not justified by legitimate business need and constituted discrimination
against applicants with respect to credit transactions on the basis of race and national origin in violation of New York Executive Law
§ 296-a.

 

NOW THEREFORE, to resolve this matter without
further proceedings, the Department and the Bank stipulate and agree to the following terms and conditions:

 

     

     

    

SETTLEMENT PROVISIONS

 

Restitution

 

25.             
The Bank shall provide restitution calculated according to the formulae previously provided to the Department on an individualized
basis to all Eligible Impacted Borrowers2 between January 1, 2016 and December 31, 2020,
meaning each protected class borrower who paid more than the average markup for non-Hispanic white borrowers and whom the Department has
identified as having a BISG probability of being Hispanic. The Bank shall distribute restitution according to formulas approved by the
Department. All Eligible Impacted Borrowers shall also receive from the Bank a statement accompanying the check to the effect that: (1)
as a result of the settlement with the Department concerning the Bank’s indirect lending program, the Bank is paying restitution
to the Eligible Impacted Borrower; (2) unless the Eligible Impacted Borrower’s loans have been completely paid off, the Eligible
Impacted Borrower should continue to make payments as before; and (3) the Eligible Impacted Borrower may seek further information on the
settlement from DFS, including at the website https://www.dfs.ny.gov.

 

26.             
As soon as practicable, but no later than thirty (30) days from the execution of this Consent Order, the Bank will provide the
Department with a list of Eligible Impacted Borrowers fitting the description of those entitled to restitution in Paragraph 25 above.

 

27.             
The Bank shall use all reasonable efforts, including use of Lexis or a similar service, to determine the Eligible Impacted Borrower’s
last known address, to mail a check satisfying the amount of restitution determined by DFS and the Bank to each Eligible Impacted Borrower
within 30 days of the effective date of this Consent Order.

 

 

 

 

 

___________________________

2
The term Eligible Impacted Borrowers does not include any borrowers who defaulted on their loans or any non-New York borrowers.

 

     

     

    

28.             
For any payment to an Eligible Impacted Borrower that is returned as undeliverable or not deposited within six months, the Bank
shall conduct a reasonable search for a current address. Should the search show a more current address, the Bank shall re-issue a check
valid for six months in the amount of the returned or undeposited check.

 

29.             
If an Eligible Impacted Borrower did not cash his or her check before the expiration date of the check or the check was returned
after the Bank re-sent it as described in Paragraph 28, the Bank shall follow all applicable provisions of the New York State Abandoned
Property Law, including all reporting, mailing, and remittance requirements.

 

30.             
As soon as practicable, but no later than forty-five (45) days from the execution of this Consent Order, the Bank shall post for
public access on its website the Consent Order, a set of agreed-upon Frequently Asked Questions (“FAQs”) and answers concerning
the restitution process and refund opportunity relating to this settlement. Those materials shall be printable and downloadable. The website
containing information relating to this settlement will include instructions for submitting claims, either by phone, fax (if original
documentation is required, with such documents to be mailed or submitted by electronic mail to the Bank at a specified address), or by
mail or electronic mail, at the election of the borrower. The website must be directly accessible from the Bank’s home page, and
the Bank is prohibited from engaging in a practice that would cause the website containing information relating to this settlement to
be excluding from organic internet searches. The website shall remain open and accessible through a period of one year from the date of
the first publication.

 

     

     

    

31.             
To the extent the Bank receives a request for a restitution claim resulting from the publication notices set forth in Paragraph
36 by claimants who were not previously identified as Eligible Impacted Borrowers pursuant to this Consent Order, the Bank shall make
a determination as to whether the claimant is eligible for restitution on the basis of being a potential member of a protected class who
paid more in Dealer Markup between January 1, 2016 and December 31, 2020 than the average paid by non-Hispanic white borrowers, subject
to the Department’s review. If the Bank determines that any such claimant is eligible for restitution in accordance with this Paragraph,
the Bank shall provide restitution on an individualized basis pursuant to the methodology established in accordance with Paragraph 32
of this Consent Order. A borrower must submit a restitution claim pursuant to this Paragraph within one year of the publication date of
the website containing information relating to this settlement to be eligible for any restitution.

 

32.             
Following a period of one year from the date of the first publication date of the website as set forth in Paragraph 36, the Bank
shall submit to the Department a list of claims it has received, paid, or denied in connection with Paragraphs 37, along with a justification
for its determinations thereof.

 

Monetary Penalty

 

33.             
The Bank shall pay a total civil monetary penalty pursuant to Banking Law § 9-d to the Department in the amount of three hundred
and fifty thousand dollars ($350,000) to the Department. The Bank shall pay the entire amount within ten (10) days of executing this Consent
Order. The payment shall be in the form of a wire transfer in accordance with instructions provided by the Department.

 

34.             
The Bank agrees that it will not claim, assert, or apply for a tax deduction or tax credit with regard to any federal, state, or
local tax, directly or indirectly, for any portion of the civil monetary penalty paid pursuant to this Consent Order.

 

35.             
The Bank further agrees that it shall neither seek nor accept, directly or indirectly, reimbursement or indemnification with respect
to payment of the penalty amount, including but not limited to payment made pursuant to any insurance policy.

 

     

     

    

Remediation

 

36.             
The Bank shall implement effective compliance monitoring and develop and enhance policies and procedures pertaining to fair lending.
The Bank agrees to maintain general compliance management systems reasonably designed to assure compliance with all relevant federal and
state fair lending laws, including but not limited to, New York Executive Law § 296-a.

 

37.             
In addition to continuing the remedial measures previously instituted by the Bank, and to ensure the Bank’s indirect automobile
lending program is in compliance with federal and state fair lending laws, the Bank shall:

 

a.                  
Send annual notices to all automobile dealers participating in the Bank’s indirect automobile lending program which shall:
(1) outline the Bank’s expectations with respect to compliance with federal and state fair lending law; and (2) articulate the dealer’s
obligation to price retail installment contracts in a non-discriminatory manner;

 

b.                 
Move to a flat-fee business model in connection with indirect auto lending and provide the Department with notice when the flat-fee
business model is fully implemented;

 

     

     

    

c.                  
Conduct periodic, at least quarterly, portfolio-level assessments of the Bank’s indirect automobile lending program designed
to identify disparities in Dealer Markups or loan denials on a prohibited basis, and take appropriate corrective action, including providing
restitution to any individuals member of a protected class who paid more in Dealer Markup than the average non-Hispanic white borrower,
and restricting or terminating the Bank’s relationship with a dealer. The Bank may cease conducting the periodic assessments to
identify disparities in Dealer Markups when the flat-fee business model is fully implemented;

 

d.                 
Submit an annual report to the Department detailing the results of the periodic assessments contemplated herein, as well as any
restitution paid or modification of a relationship with a dealer as a result of the same.

 

Full and Complete Cooperation

 

38.          
The Bank commits and agrees that it will fully cooperate with the Department regarding all terms of this Consent Order.

 

Waiver of Rights

 

39.             
The parties understand and agree that no provision of this Consent Order is subject to review in any court or tribunal outside
the Department.

 

Parties Bound by the Consent Order

 

40.             
This Consent Order is binding on the Department and the Bank, as well as any successors and assigns. This Consent Order does not
bind any federal or other state agency or any law enforcement authority.

 

     

     

    

41.             
No further action will be taken by the Department against the Bank for the conduct set forth in this Consent Order, provided that
the Bank fully complies with the terms of the Consent Order.

 

42.             
Notwithstanding any other provision in this Consent Order, however, the Department may undertake additional action against the
Bank for transactions or conduct that was not disclosed in the written materials submitted to the Department in connection with this matter.

 

Breach of Consent Order

 

43.             
In the event that the Department believes any party to this Consent Order to be in material breach of the Consent Order, the Department
will provide written notice to the party, and the party must, within ten (10) business days of receiving such notice, or on a later date
if so determined in the Department’s sole discretion, appear before the Department to demonstrate that no material breach has occurred
or, to the extent pertinent, that the breach is not material or has been cured.

 

The parties understand and agree that any party’s failure to make the required showing
within the designated time period shall be presumptive evidence of that party’s breach. Upon a finding that a breach of this Consent
Order has occurred, the Department has all the remedies available to it under New York Banking and Financial Services Law and may use
any evidence available to the Department in any ensuing hearings, notices, or orders.

 

Notices

 

44.             
All notices or communications regarding this Consent Order shall be sent to:

 

For the Department:

 

Laura E. Meehan 

Senior Assistant Deputy Superintendent 

New York State Department of Financial Services 

One State Street 

New York, New York 10004

 

 

 

     

     

    

Madeline W. Murphy 

Assistant Deputy Superintendent for Enforcement 

New York State Department of Financial Services 

One Commerce Plaza 

Albany, NY 12257

 

 

 

Serwat Farooq 

Deputy Superintendent 

New York State Department of Financial Services 

One State Street 

New York, New York 10004

 

 

 

For Chemung Canal Trust Company:

 

Anders M. Tomson 

President & CEO 

Chemung Canal Trust Company 

One Chemung Canal Plaza 

Elmira, NY 14901

 

 

 

Miscellaneous

 

45.             
Each provision of this Consent Order shall remain effective and enforceable against the Bank, its successors and assigns until
stayed, modified, suspended, or terminated by the Department.

 

46.             
No promise, assurance, representation, or understanding other than those contained in this Consent Order has been made to induce
any party to agree to the provisions of the Consent Order.

 

[remainder of this page intentionally left blank]

 

 

 

     

     

    

WHEREFORE, the signatures evidencing assent to this Consent Order
have been affixed hereto on the dates set forth below.

 

	
    CHEMUNG CANAL TRUST COMPANY

    

    

     

     

    By: _/s/ Anders M. Tomson                   

    ANDERS M. TOMSON

    President & CEO

     

    June 21, 2021

     

    

    

    
	
    NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES

     

     

    By: /s/ Madeline W. Murphy

    MADELINE W. MURPHY

    Assistant Deputy Superintendent

    Consumer Protection and Financial Enforcement

     

    June 21, 2021

     

    By: /s/ Katherine A. Lemire___

    KATHERINE A. LEMIRE

    Executive Deputy Superintendent for Consumer Protection and Financial Enforcement

     

    June 21, 2021

     

    THE FOREGOING IS HEREBY APPROVED.

    IT IS SO ORDERED.

     

    By: /s/ Linda A. Lacewell       

    LINDA A. LACEWELL

    Superintendent of Financial Services

     

    June 24, 2021

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