2023 New York Laws › BNK - Banking › Article 2 - Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers › 41 - Removal of Director, Trustee or Officer.

§ 41.  Removal  of  director,  trustee  or  officer.  1.  Whenever the
  superintendent shall find that any director, trustee or officer  of  any
  corporate  banking  organization  or  bank holding company (as such term
  "bank holding company" is defined in article three-A of this chapter) or
  any person or persons in charge of, or any officer of,  a  branch  of  a
  foreign  banking  corporation  has  violated  any  law  or  duly enacted
  regulation of the superintendent of financial services relating to  such
  corporation,  or  has  continued  unauthorized  or  unsafe  practices in
  conducting the business of such corporation after having been ordered or
  warned  by  the  superintendent  to  discontinue  such  practices,   the
  superintendent  may,  in his discretion, certify the facts to the board.
  The board shall cause notice to be served upon such  director,  trustee,
  officer  or  person  in  charge of, or officer of, a branch of a foreign
  banking corporation either personally or, upon a finding that he  cannot
  be  served  personally  within  the  state,  by  registered mail, at his
  address last known to the superintendent, to appear before such board to
  show cause why he should not be removed from  office.  A  copy  of  such
  notice  shall  be sent by registered mail to each director or trustee of
  the banking organization and to  each  person  in  charge  of  and  each
  officer  of  a  branch  of the foreign banking corporation affected. If,
  after granting the accused  director,  trustee,  officer  or  person  in
  charge  of,  or  officer of, a branch of a foreign banking corporation a
  reasonable opportunity to be heard, the board by a three-fifths vote  of
  all  its  members  finds  that  he  has violated any law or duly enacted
  regulation of the board relating to such corporation, or  has  continued
  unauthorized  or  unsafe  practices  in  conducting the business of such
  corporation after having been ordered or warned by the superintendent to
  discontinue  such  practices,  the  board,  in  its  discretion,  by   a
  three-fifths  vote  of  all  its  members, may order that such director,
  trustee, officer or person in charge of, or officer of, a  branch  of  a
  foreign banking corporation be removed from office.
2. Upon service either personally or by registered mail at his address
  last known to the superintendent upon such director, trustee, officer or
  person  in  charge  of,  or  officer  of,  a branch of a foreign banking
  corporation and upon the corporation of which he is a director, trustee,
  officer or, in case he is a person in charge of, or officer of, a branch
  of a foreign banking corporation upon such foreign banking  corporation,
  of  a  copy  of  such order, he shall cease to be a director, trustee or
  officer of such banking organization or person in charge of, or  officer
  of,  a  branch  of  a  foreign  banking  corporation. Such order and the
  findings of fact upon which it is based shall  not  be  made  public  or
  disclosed to anyone except the director, trustee or officer or person in
  charge  of,  or  officer  of,  a branch of a foreign banking corporation
  involved and the directors or  trustees  of  the  corporation  involved,
  except  in  connection with proceedings for a violation of this section.
  Any director, trustee or officer or any person or persons in charge  of,
  or  any officer of, a branch of a foreign banking corporation so removed
  from office who thereafter without permission of the board  participates
  in  any  manner  in  the management of such banking organization or of a
  branch of  such  foreign  banking  corporation  shall  be  guilty  of  a
  misdemeanor.