NY Banking L § 141 (2021)
2021 New York Laws BNK - Banking Article 3-A - Bank Holding Companies; Control of Banking Institutions 141 - Definitions.

§ 141.  Definitions.  1.  "Banking  institution,"  when  used  in this   article, means a bank, a trust company, a stock-form savings bank  or  a   stock-form savings and loan association.2.  "Company,"  when  used  in  this  article,  means any corporation,   partnership, trust, unincorporated association, joint stock  association   or  similar  organization  organized  under the laws of the state of New   York, or if not so organized, doing business in the state of  New  York,   or  any  individual residing or doing business in the state of New York,   or any combination of individuals which combination is  residing  or  is   doing  business  in  the  state  of  New  York,  any  combination of the   foregoing which combination is residing or  is  doing  business  in  the   state  of  New  York,  or  any  such individual and any of the foregoing   acting in concert,  but  shall  not  include  (a)  any  corporation  the   majority  of  the stock of which is owned by the United States or by any   state unless the superintendent determines  that  it  would  be  in  the   public  interest  to deem such a corporation to constitute a company, or   (b) any corporation or community chest, fund, or  foundation,  organized   and  operated  exclusively  for  religious,  charitable,  or educational   purposes, no part of the net earnings of which inures to the benefit  of   any  private  stockholder  or individual, and no substantial part of the   activities of which is the  carrying  on  of  propaganda,  or  otherwise   attempting to influence legislation unless the superintendent determines   that  it  would  be  in  the public interest to deem such a corporation,   community chest, fund, or foundation to constitute a company, or (c) any   corporation or partnership  owning  or  controlling  stock  acquired  in   connection with an underwriting of securities and which is held only for   such  period  of  time as will permit the sale thereof upon a reasonable   basis.3. "Bank holding company,"  when  used  in  this  article,  means  any   company  which  (a)  directly  or indirectly, or through a subsidiary or   subsidiaries, owns, controls, or holds with power to vote  (i)  ten  per   centum  or  more  of the voting stock of a company which is or becomes a   bank holding company by virtue of this article, or (ii) ten  per  centum   or more of the voting stock of a banking institution, or (b) controls in   any  manner the election of a majority of the directors of (i) a banking   institution, or (ii) a company  which  is  or  becomes  a  bank  holding   company  by virtue of this article, or (c) is a company, for the benefit   of whose stockholders or members ten per centum or more  of  the  voting   stock  of  a  banking  institution or of a company which is or becomes a   bank holding company by virtue of this  article  is  held,  directly  or   indirectly,  by  a  trustee or trustees, or (d) through a combination of   (i) ownership, control or holding, directly  or  indirectly,  of  voting   stock  and  (ii)  voting  stock  and  held, directly or indirectly, by a   trustee or trustees for the benefit of the members  or  stockholders  of   such  company,  if  such  voting  stock  is  voting stock of one or more   banking institutions or of one of more companies  which  are  or  become   bank holding companies by virtue of this article, as the case may be, is   a company which would be a bank holding company if the aggregate of such   voting stock were either entirely owned, controlled or held, directly or   indirectly, by such company or entirely held, directly or indirectly, by   a  trustee or trustees for the benefit of the members or stockholders of   such company. Notwithstanding the foregoing, no company shall be a  bank   holding  company  by  virtue of its ownership or control of either stock   acquired in a fiduciary capacity, except where such stock  is  held  for   the  benefit  of  the stockholders or members of such company; or voting   rights of stock acquired in the court  of  a  proxy  solicitation  by  a   company  formed  and  operated  for the sole purpose of participating in   proxy solicitations by virtue of its control of voting rights  of  stock    in  any  banking  institution  or  bank  holding company acquired in the   course of such solicitations.4.  "Subsidiary," when used in this article, means (a) any company ten   per centum or more of whose voting stock is directly or  indirectly,  or   through  a  subsidiary  or subsidiaries, owned, controlled, or held with   power to vote, by a  bank  holding  company;  or  (b)  any  company  the   election of a majority of whose directors is controlled in any manner by   a  bank  holding  company;  or (c) any company ten per centum or more of   whose voting stock is directly or indirectly owned, controlled, or  held   with  power  to  vote,  by  a trustee or trustees for the benefit of the   stockholders or members of a bank holding company; or (d) any company at   least ten per centum of  the  voting  stock  of  which  is  directly  or   indirectly,  or  through a subsidiary or subsidiaries, owned, controlled   or held with power to vote by a combination of a  bank  holding  company   and  by  a  trustee  or  trustees for the benefit of the stockholders or   members of such bank holding company. For purposes of this  subdivision,   voting  stock  shall  not be deemed to include voting stock owned by the   United States or by any company wholly owned by the United  States.  Any   company  having  any  of  the  relationships with a bank holding company   described in clauses (a), (b), (c) or (d) of this subdivision  shall  be   deemed to be a subsidiary of such bank holding company.5.  "Doing  business,"  when  used  in this article, shall include the   maintenance by a foreign company of a place of business in  this  state,   or  the conduct by a foreign company of operations in this state, or the   acquisition, owning or holding by a foreign  company  of  any  stock  or   assets  of  any  banking  institution  or  any company which directly or   indirectly owns, controls or holds with power to vote ten per centum  or   more of the voting stock of a banking institution.6. "Banking subsidiary," when used in this article, means a subsidiary   that  is  a  banking institution, and a "non-banking subsidiary" means a   subsidiary that is not a banking institution.