2023 New York Laws › BNK - Banking › Article 2 - Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers › 11 - Department of Financial Services; Official Documents; Destruction of Documents; Official Communications.

§ 11.   Department   of   financial   services;   official  documents;
destruction of documents; official  communications.  1.  The  department
shall  be  charged  with  the  execution  of  the  laws  relating to the
individuals, partnerships, corporations and other entities to which this
chapter is applicable and shall exercise such powers  and  perform  such
duties  as  are conferred and imposed upon it by this chapter, or by any
law of this state.
2.  (a)  Except  as  specified  in  paragraph  (b)  or  (c)  of   this
subdivision,  any  report  expressly  required  to  be  rendered  to the
superintendent under any provision of this chapter,  any  report  of  an
examination  made  in accordance with any provision of this chapter, and
any oath or declaration of office received by the  department  shall  be
retained  in  such  form and for such period as the superintendent finds
necessary  and  proper.  After  such  period  the  superintendent  shall
recommend disposal of such material in accordance with the provisions of
the arts and cultural affairs law.
(b)  Reports  made  in  accordance with section twenty-eight-b of this
article or pursuant to the rules and regulations of  the  superintendent
promulgated in connection with assessing a banking organization's record
of  performance  in meeting the credit needs of local communities within
the meaning of section twenty-eight-b of this article, including reports
expressly required to be rendered to the superintendent and  reports  of
examinations may be destroyed at the direction of the superintendent and
in  accordance  with the provisions of the arts and cultural affairs law
after three years from date of receipt thereof, provided any such report
has first been photographed, microphotographed or otherwise  reproduced.
Each  such reproduction shall be retained in the files of the department
for a period of at least  fifteen  years  from  the  date  of  the  last
received  report,  oath  or  declaration  appearing  thereon.  After the
expiration of such period, such reproduction may  be  destroyed  at  the
direction of the superintendent and in accordance with the provisions of
the  arts  and  cultural affairs law. Such reproduction thereof shall be
deemed, for any purpose, the equivalent of the original of such  report.
Any  such report not so reproduced shall be retained in the files of the
department for a period of at least  fifteen  years  from  the  date  of
receipt thereof, after which it may be destroyed at the direction of the
superintendent  and  in  accordance  with the provisions of the arts and
cultural affairs law.
(c) This subdivision shall not apply  to  any  records,  documents  or
correspondence  referred  to  in subdivision four of section six hundred
twenty-seven of this chapter.
4. Any communication from the department to any  person,  partnership,
corporation   or   other  entity  may  contain  a  direction  that  such
communication shall be presented to the controlling owners or  principal
management  of  such entity, members of such partnership or to the board
of directors or trustees of such corporation. A communication containing
such direction shall be for the purposes of  this  chapter  an  official
communication.  The superintendent may, in his or her discretion, notify
in writing each owner or principal manager of such entity, every  member
of such partnership and every director or trustee of such corporation of
the  sending of such a communication and, in that event the notification
shall state the date of such communication.