NY Banking L § 399-A (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 399-A - Restrictions on Holding of Certain Offices by Executive Officers of Federal Savings Banks and Federal Savings Associations.

§ 399-a.  Restrictions  on  holding  of  certain  offices by executive   officers of federal savings banks and federal savings  associations.  1.   No  executive  officer  of  a  federal  savings  bank or federal savings   association the principal office of which institution is located in this   state may be an executive officer, director or trustee of a savings  and   loan  association,  bank  or  trust  company, savings bank, bank holding   company or foreign banking corporation  maintaining  a  branch  in  this   state, unless permission therefor has been granted by the superintendent   pursuant  to subdivision two of this section, provided, however, that an   executive officer of a federal savings and loan association  located  in   this  state,  who  on the effective date of this section is an executive   officer, director or trustee of a savings and loan association, bank  or   trust  company,  savings  bank,  bank holding company or foreign banking   corporation maintaining a branch in this state,  may  continue  to  hold   such  other office without permission from the superintendent, until the   expiration of the term of such office or the close of  business  on  the   last  day  of  December, nineteen hundred seventy-four, whichever occurs   sooner.2. The superintendent shall have the power to determine by  regulation   who shall be considered, under the provisions of this subdivision, to be   an  executive  officer,  and  by  regulation  to  grant permission to an   executive  officer  of  a  federal  savings  bank  or  federal   savings   association  located  in this state, to be at the same time an executive   officer, director or  trustee,  or  both  an  executive  officer  and  a   director  or  trustee  of  a savings and loan association, bank or trust   company,  savings  bank,  bank  holding  company,  and  foreign  banking   corporation  maintaining  a branch in this state. Such permission may be   granted only if in the judgment of the superintendent  such  service  by   the executive officer will be consistent with the policy of the state of   New  York as declared in section ten of this chapter. The superintendent   shall  have  the  power  to  revoke   such   permission   whenever   the   superintendent  finds,  after reasonable notice and an opportunity to be   heard, that the public interest requires such revocation.3. For the purposes  of  this  subdivision,  the  term  "bank  holding   company"  shall be given the same meaning as is contained in section one   hundred forty-one of this  chapter,  and  the  definition  of  the  term   "banking  institution"  is  modified to include a national bank, federal   savings bank or federal savings association,  the  principal  office  of   which  institution  is  located  in  this  state,  and a foreign banking   corporation maintaining a branch in this state.4. All other restrictions and limitations imposed by this  chapter  on   executive   officers   and   directors   of  federal  savings  and  loan   associations located in this state, shall continue in effect.