reglab/statecodes huggingface dataset:
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 200-A - Actions Maintained by a Foreign Banking Corporation.

§ 200-a. Actions maintained by a foreign banking corporation.
In  maintaining  an  action  or  special  proceeding  in this state, a
  foreign banking corporation shall maintain such action or proceeding  in
  like manner and subject to the same limitations as are applicable in the
  case of an action or special proceeding maintained by a domestic banking
  organization, except as otherwise prescribed by statute.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 200-B - Actions Maintained Against Foreign Banking Corporation; Residents; Foreign Corporations, Foreign Banking Corporations as Non-Residents.

§ 200-b. Actions   maintained   against   foreign  banking  corporation;
residents; foreign corporations, foreign banking corporations
as non-residents.
1.  An  action  or  special  proceeding  against  a  foreign   banking
corporation  may be maintained by a resident of this state for any cause
of action.  For purposes of this subdivision one, the term "resident  of
this  state"  shall include any corporation formed under any law of this
state.
2. Except as otherwise provided in this chapter, an action or  special
proceeding  against  a  foreign banking corporation may be maintained by
another foreign corporation or  foreign  banking  corporation  or  by  a
non-resident in the following cases only:
(a) where the action is brought to recover damages for the breach of a
contract  made  or  to  be  performed  within this state, or relating to
property situated within this state at the time of  the  making  of  the
contract;
(b) where the subject matter of the litigation is situated within this
state;
(c)  where  the  cause of action arose within this state, except where
the object of the action or special proceeding is to affect the title of
real property situated outside this state;
(d) where the action or special proceeding is based on a liability for
acts done within this state by a foreign banking corporation;
(e) where  the  defendant  is  a  foreign  banking  corporation  doing
business in this state.
3.  The  limitations  contained  in  subdivision two do not apply to a
corporation formed and existing under the laws of the United States  and
which maintains an office in this state.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 200-C - Maintenance of Books, Accounts and Records.

§ 200-c.  Maintenance  of  books,  accounts and records. Every foreign
  banking corporation licensed pursuant to this chapter to maintain one or
  more branches, agencies or representative offices in  this  state  shall
  maintain  or make available at any such branch, agency or representative
  office appropriate  books,  accounts  and  records  reflecting  (i)  all
  transactions  effected  by  or  on  behalf  of  the  branch,  agency  or
  representative office and (ii)  all  actions  taken  in  this  state  by
  employees  of  the  foreign banking corporation located in this state to
  effect transactions on behalf of any  office  of  such  foreign  banking
  corporation located outside this state.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 201 - Conditions to Be Complied With by Foreign Banking Corporations Applying for Initial License.

§ 201.  Conditions to be complied with by foreign banking corporations
  applying for initial license. Every foreign banking  corporation  before
  being  licensed  by  the  superintendent  to  transact in this state the
  business of buying, selling, paying or collecting bills of exchange,  or
  of  issuing  letters of credit or of receiving money for transmission or
  transmitting the same by draft, check, cable or otherwise, or of  making
  loans,  or  receiving  deposits,  and  before  being  authorized  by the
  superintendent to exercise the fiduciary powers specified in section two
  hundred one-b of this chapter, or any part of such business,  or  before
  maintaining  in  this state its initial agency or branch for carrying on
  such business or any part thereof, shall subscribe and  acknowledge  and
  submit  to  the superintendent at his office, an application certificate
  in duplicate, which shall specifically state:
1. The name of such foreign banking corporation.
2. The place where its business is to be transacted in this state; and
  if such business is to be conducted through an agency in this state, the
  name of the agent  or  agents  through  whom  such  business  is  to  be
  transacted;  and if such business is to be transacted in this state by a
  branch of said foreign banking corporation, the name of the  person  who
  shall be in charge of the business and affairs of such branch.
3.  The  amount  of  its  capital actually paid in cash and the amount
  subscribed for and unpaid.
4. The actual value of the assets of such corporation, which  must  be
  at  least  one  million  dollars  in  excess  of  its liabilities; and a
  complete and detailed statement of its financial condition as of a  date
  prior  to  the  date  of  such  application as the superintendent in his
  discretion may determine.
At  the  time  such  application  certificate  is  submitted  to   the
  superintendent, such corporation shall also submit a duly exemplified or
  otherwise  authenticated copy of its charter and a verified or otherwise
  authenticated copy of its by-laws, or an equivalent thereof satisfactory
  to the superintendent,  and  pay  an  investigation  fee  as  prescribed
  pursuant  to  section  eighteen-a of this chapter to be collected by the
  superintendent.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 201-A - Rights and Privileges of Foreign Banking Corporation Under License; Effect of Revocation.

§ 201-a.  Rights  and  privileges of foreign banking corporation under
  license; effect of revocation. 1. When  the  superintendent  shall  have
  issued  a  license  as provided in section twenty-six of this chapter to
  any such foreign banking corporation, it  may  engage  in  the  business
  specified  in  sections  two hundred and two hundred one of this article
  either as an agency or as a branch at the  location  specified  in  such
  license  for  a  period  not  exceeding  one  year from the date of such
  license  or,  if  such  license  so  provides,  until  such  license  is
  surrendered  or revoked. A license issued for a period not exceeding one
  year may, upon  the  approval  of  the  superintendent,  be  renewed  as
  provided in section twenty-six of this chapter. No such license shall be
  transferable  or  assignable.  Every  such license shall be at all times
  conspicuously displayed in the place of business specified  therein.  In
  the   event   that   such   license  shall  have  been  revoked  by  the
  superintendent, as provided in article two of this chapter, it shall  be
  surrendered  to  the  superintendent within twenty-four hours after such
  corporation has received written notice of such revocation.
2. Whenever the superintendent shall have revoked any such license and
  shall have taken the action to make such revocation effective  specified
  in  article  two  of this chapter, all the rights and privileges of such
  foreign banking corporation to transact the business thus licensed shall
  forthwith cease and determine.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 201-B - Fiduciary Powers of Foreign Banking Corporations.

§ 201-b.  Fiduciary  powers  of  foreign  banking  corporations. Every
  foreign banking corporation licensed pursuant to  article  two  of  this
  chapter  to maintain one or more branches or agencies in this state, and
  holding an authorization certificate issued  pursuant  to  this  section
  may,  subject  to  such  further  limitations  and  restrictions  as the
  superintendent may prescribe, exercise the powers described in  sections
  one  hundred,  one  hundred-a,  one  hundred-b and one hundred-c of this
  chapter to the same extent, and subject to  the  same  requirements  and
  restrictions  and  effect as apply in the case of trust companies in the
  exercise of such powers.
The superintendent shall, within sixty days of the receipt by him of a
  request for such authorization, issue to a foreign  banking  corporation
  licensed pursuant to article two of this chapter to maintain one or more
  branches  or  agencies  in this state, a certificate of authorization to
  exercise the fiduciary powers referred to in this section at all  or  at
  any  one  or more of its authorized branches or agencies, if he shall be
  satisfied that such powers will be  exercised  in  accordance  with  the
  requirements  of  this  chapter.  The  superintendent  may, after giving
  notice of the contemplated  action  and  reasonable  opportunity  to  be
  heard,  revoke  any  such  certificate of authorization if he shall find
  that a foreign banking corporation so authorized has failed  to  conform
  to  any  requirement  of  this  chapter  relating to the conduct of such
  business. Such revocation may apply to one or  more  of  the  authorized
  branches or agencies of a foreign banking corporation.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 201-C - Notice of Acquisition of Control or Merger.

§ 201-c.  Notice  of  acquisition  of  control or merger. 1. A foreign
  banking corporation licensed pursuant to article two of this chapter  to
  maintain  a  branch  or  agency  in  this  state  shall  file  with  the
  superintendent a notice, in such form and containing such information as
  the superintendent may prescribe, no later than fourteen  calendar  days
  after  such foreign banking corporation becomes aware of any acquisition
  of control of such corporation or merges with  another  foreign  banking
  corporation.
2.  Control, for purposes of this section, means any person or entity,
  or  group  of  persons  or  entities  acting  in  concert,  directly  or
  indirectly,   owning,   controlling  or  holding  with  power  to  vote,
  twenty-five percent or more of any class of voting stock of such foreign
  banking corporation, or having the ability in  any  manner  to  elect  a
  majority  of  the  directors  of  such  foreign  banking corporation, or
  otherwise exercising a controlling influence  over  the  management  and
  policies   of  such  foreign  banking  corporation  as  defined  by  the
  superintendent by regulation.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 202 - Rates of Interest; Installment Obligations; Personal Loan Departments; Effect of Usury

§  202.  Rates  of  interest;  installment  obligations; personal loan
  departments; effect of usury. Branches and agencies of  foreign  banking
  corporations  licensed  to  do business in this state may make loans and
  offer extensions of credit to the same extent and subject  to  the  same
  conditions as banks and trust companies may make loans and extend credit
  pursuant  to  the  provisions of subdivisions four-a and five of section
  one hundred three of this chapter and section one hundred eight of  this
  chapter.  Without  limiting the foregoing, a foreign banking corporation
  licensed pursuant to article two of this chapter to maintain one or more
  branches or agencies in this state, may, in pursuance of  its  otherwise
  lawful  powers  under  this chapter, take, receive, reserve or charge on
  any loan or discount made, or upon any note, bill of exchange  or  other
  evidence  of  debt,  negotiable  or otherwise, interest at such rate and
  such other charges and  fees  as  a  bank  or  trust  company  shall  be
  permitted  to  charge  under the provisions of the laws of this state or
  the laws of the United States, with respect to the same class or classes
  of loans or transactions to which such rate or  such  charges  and  fees
  shall be applicable.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 202-A - Restrictions on Receiving Deposits.

§ 202-a.  Restrictions  on  receiving  deposits.  1. A foreign banking
  corporation licensed pursuant to article two of this chapter to maintain
  one or more agencies in this state shall not engage in the  business  of
  receiving deposits in this state; provided (a) that such foreign banking
  corporation  may  maintain  for  the  account  of others credit balances
  incidental to, or arising out of, the exercise of its lawful powers; and
  (b) that the superintendent of financial services is authorized to adopt
  regulations that permit a foreign banking corporation, licensed pursuant
  to article two of this chapter to maintain one or more agencies in  this
  state,  to  issue  to  a corporation, partnership, trust, unincorporated
  association, joint stock association or similar association  obligations
  each  in  a  principal  amount  of  not  less  than one hundred thousand
  dollars; and (c)  that  such  foreign  banking  corporation  may  accept
  deposits  other  than from citizens or residents of the United States as
  the superintendent shall define by regulation.
2. A foreign banking corporation organized under the laws of a foreign
  country may be licensed pursuant to  article  two  of  this  chapter  to
  maintain  a  branch  or  branches  in  this  state and may engage in the
  business of receiving deposits in this state.
3. The superintendent  of  financial  services  shall  have  power  to
  prescribe, by specific or general regulation, to the extent to which and
  the  conditions upon which, the deposits and credit balances in agencies
  and branches in this  state  of  foreign  banking  corporations  may  be
  established, maintained and paid out.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 202-C - Reserves Against Deposits.

§ 202-c.   Reserves   against  deposits.  Each  such  foreign  banking
  corporation which is authorized to maintain a branch or branches in this
  state shall maintain such reserves against the deposits of  such  branch
  or  branches  as  may  be required from time to time by the laws of this
  state to be maintained by banks and trust companies. Such reserves shall
  be maintained, subject to call, as provided by sections thirty-three and
  one hundred seven of this chapter;  provided,  however,  that  any  such
  foreign  banking  corporation  which  maintains  reserves with a federal
  reserve bank pursuant to federal law shall be exempt from the  preceding
  provisions  of  this  section  so  long  as  it  shall  comply  with the
  requirements of such  law  with  reference  to  reserves,  and  provided
  further that the superintendent of financial services may determine that
  it  is  necessary  or  appropriate  to  require  such  a foreign banking
  corporation to maintain additional reserves against the deposits of  its
  branch  or  branches  in  this  state,  taking  into  consideration  the
  character of business conducted by such institutions  and  the  need  to
  maintain  vigorous  and fair competition between and among such branches
  and banks organized under the  laws  of  this  state.  As  to  any  such
  additional reserves which are required to be maintained pursuant to this
  section,  to the extent permitted by the superintendent, amounts carried
  on the books of any such branch or branches as credits to the account of
  another office or branch or wholly owned (except for a nominal number of
  directors' shares) subsidiary of such foreign banking corporation  shall
  not be deemed to be deposits.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 202-D - Foreign Banking Corporation May Not Maintain Both Agencies and Branches in This State.

§ 202-d.  Foreign  banking  corporation may not maintain both agencies
  and branches in this state. No foreign banking corporation  licensed  to
  maintain  one  or  more  agencies  in  this  state  shall be licensed to
  maintain a branch in this state except upon termination of the operation
  of such agency or agencies; and no foreign banking corporation  licensed
  to  maintain  one  or  more  branches in this state shall be licensed to
  maintain an  agency  in  this  state  except  upon  termination  of  the
  operation of such branch or branches.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 202-F - Restrictions on Loans, Purchases of Securities and Total Liabilities of Any One Person to New York Branch or Agency of Foreign Bank.

§ 202-f.  Restrictions  on  loans,  purchases  of securities and total
  liabilities of any one person to New York branch or  agency  of  foreign
  bank.  Before  opening  a  branch  or agency in this state, and annually
  thereafter so long as a branch or agency is maintained in this state,  a
  foreign  banking  corporation,  licensed pursuant to article two of this
  chapter, shall certify to the superintendent the amount of  its  paid-in
  capital  stock,  its  surplus  fund  and  its  undivided  profits,  each
  expressed in the currency of  the  country  of  its  incorporation,  the
  dollar  equivalent of which amount, as determined by the superintendent,
  shall be deemed to be the amount of its capital stock, surplus fund  and
  undivided  profits.  Loans,  purchases  and discounts of notes, bills of
  exchange, bonds, debentures and other  obligations,  and  extensions  of
  credit  and  acceptances  by  a  branch  or  agency of a foreign banking
  corporation within this state shall be subject to the  same  limitations
  as  to  amount in relation to capital stock, surplus fund, and undivided
  profits as are applicable to  banks  and  trust  companies  pursuant  to
  article  three  of  this chapter, provided, however, that with the prior
  approval of the superintendent of financial services, the capital  notes
  and  capital  debentures  of  such  foreign  banking  corporation may be
  treated as capital stock in computing such limitations.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 202-G - Succession to Agency by Branch and to Branch by Agency.

§ 202-g.  Succession  to  agency  by  branch  and to branch by agency.
  Notwithstanding any other provision of this chapter, the  superintendent
  may,  subject  to  such  regulations  as  he  may  adopt,  authorize the
  conversion of a foreign banking corporation agency to a  branch  or  the
  conversion of a foreign banking corporation branch to an agency.
When  a  foreign  banking  corporation shall be licensed to conduct in
  this state a branch in lieu of an agency theretofore conducted by it  or
  to  conduct  an  agency  in  this  state in lieu of a branch theretofore
  conducted by it, the preceding form  of  organization  shall,  with  the
  approval of the superintendent, be converted into the succeeding form of
  organization  of  such  foreign  banking  corporation  and  all  of  the
  liabilities of such foreign banking corporation  previously  payable  at
  the  office  where  such  preceding form of organization shall have been
  conducted shall thereafter be payable at the  office  of  the  successor
  form of organization.
In  the event that the successor form of organization shall succeed to
  assets in which it would not have had  legal  power  to  invest  in  its
  successor  form,  or,  in  the  event the successor form of organization
  shall succeed to liabilities which the successor  form  of  organization
  would  not  have  had  power to incur, it shall liquidate such assets or
  liabilities within the next succeeding twelve calendar months unless the
  superintendent shall, in his discretion, extend such period of  time  in
  the interest of the orderly conduct of such branch or agency.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 202-I - Safe Deposit Business of Branches.

§ 202-i.  Safe deposit business of branches. Each such foreign banking
  corporation which is authorized to maintain a branch or branches in this
  state may (a) receive upon deposit for safe-keeping for hire upon  terms
  and  conditions  to  be  prescribed by such foreign banking corporation,
  money, securities, papers of any kind and any other  personal  property,
  and  (b)  engage  in  the  safe deposit business by renting vaults, safe
  deposit boxes or other receptacles  upon  premises  of  such  branch  or
  branches,  upon  such  terms and conditions as may be prescribed by such
  foreign corporation.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 202-J - Power to Act as Trustee Under Self-Employed Retirement Trust or Individual Retirement Trust.

§ 202-j.  Power to act as trustee under self-employed retirement trust
  or individual retirement trust. Each such  foreign  banking  corporation
  which  is  authorized to maintain a branch or branches in this state the
  deposits  of  which  are  insured  by  the  federal  deposit   insurance
  corporation  or any successor may, subject to any regulations prescribed
  by the superintendent of financial services, act through any such branch
  as  trustee  under  a  retirement  plan  established  pursuant  to   the
  provisions  of  the  act of congress entitled "Self-employed Individuals
  Tax Retirement Act of 1962" as such provisions may be amended from  time
  to  time,  and  under  an individual retirement account plan established
  pursuant to the amendments to the provisions  of  the  Internal  Revenue
  Code  contained  in  the  act  of congress entitled "Employee Retirement
  Income Security Act of 1974" as such provisions may be amended from time
  to time, provided that the provisions of such retirement  or  individual
  retirement  account  plan require the funds of such trust to be invested
  exclusively in deposits of  branches  of  foreign  banking  corporations
  located  in  this state the deposits of which are insured by the federal
  deposit insurance corporation or any successor and in deposits of banks,
  trust companies, savings banks, savings and loan  associations,  federal
  mutual  savings  or  federal  savings  banks or federal savings and loan
  associations whose principal offices are located in this state.  In  the
  event  that  any  such retirement or individual retirement account plan,
  which in the judgment of the foreign banking corporation  constituted  a
  qualified  plan  under  the provisions of the applicable act of congress
  hereinabove mentioned and the regulations promulgated thereunder at  the
  time  the  trust  was  established  and  accepted by the foreign banking
  corporation is subsequently determined not to be such a  qualified  plan
  or subsequently ceases to be such a qualified plan, in whole or in part,
  the  foreign  banking  corporation may, nevertheless, continue to act as
  trustee of any deposits theretofore made under such plan and to  dispose
  of  the  same in accordance with the directions of the depositor and the
  beneficiaries thereof. No foreign banking  corporation,  in  respect  to
  deposits  made  under  this section, shall be required to segregate such
  deposits from  other  deposits  of  such  foreign  banking  corporation,
  provided,  however,  that  the  foreign  banking  corporation shall keep
  appropriate records showing in proper detail all transactions engaged in
  under the authority of this section.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 203 - Change of Location, Name or Business.

§ 203. Change of location, name or business.
Any  foreign  corporation  licensed  pursuant  to  article two of this
  chapter to engage  in  business  in  this  state,  may  make  a  written
  application  to  the  superintendent  for leave to do one or more of the
  following:
1. To change its place of business from the place  designated  in  its
  license  to  another place in this state. An application for such change
  shall be accompanied by an investigation fee as prescribed  pursuant  to
  section eighteen-a of this chapter.
2. To change its corporate name if such change has been effected under
  the laws of the jurisdiction of its incorporation.
3.  To  enlarge,  limit  or  otherwise  change  the  business which it
  proposes to do in this state.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 204 - Reports of Foreign Banking Corporations; Penalties.

§ 204.  Reports  of  foreign  banking  corporations;  penalties. Every
  foreign banking corporation licensed by the superintendent to engage  in
  business  in  this  state,  shall  at such times and in such form as the
  superintendent  shall   prescribe,   make   written   reports   to   the
  superintendent under the oath of one of its officers, managers or agents
  transacting business in this state, showing the amount of its assets and
  liabilities  and  containing  such  other  matters as the superintendent
  shall prescribe. If any such corporation shall fail  to  make  any  such
  report  as  directed  by  the superintendent, it shall be subject to the
  penalties prescribed by section one hundred twenty-five of this chapter,
  and any false statement contained in any such report  or  in  any  other
  sworn  statement  made  to  the  superintendent  by  such corporation in
  pursuance of the provisions of this chapter  shall  constitute  perjury.
  Nothing  herein  contained shall be deemed to modify the prohibitions of
  section one hundred thirty-one of this chapter.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 206 - Termination of Existence.

§ 206.  Termination  of  existence. When a foreign banking corporation
  licensed pursuant to article two of this chapter  is  dissolved  or  its
  authority  or  existence  is  otherwise  terminated  or cancelled in the
  jurisdiction of its incorporation, a certificate of  the  superintendent
  of financial services, or official performing the equivalent function as
  to records of banking corporations, of the jurisdiction of incorporation
  of  such  foreign banking corporation attesting to the occurrence of any
  such event or a certified copy of an order or decree of a court of  such
  jurisdiction   directing   the   dissolution  of  such  foreign  banking
  corporation, the termination of its existence or the cancellation of its
  authority shall be delivered to the superintendent. The  filing  of  the
  certificate,  order  or  decree  shall  have  the  same  effect  as  the
  revocation of its license under  section  forty  of  this  chapter.  The
  superintendent   shall   continue   as  agent  of  the  foreign  banking
  corporation upon whom process against it may be served in any action  or
  special  proceeding  based  upon any liability or obligation incurred by
  the foreign banking corporation within this state prior to the filing of
  such certificate, order or decree and he shall promptly cause a copy  of
  such  process to be mailed by registered mail, return receipt requested,
  to such foreign corporation at the post office address on  file  in  his
  office  specified  for  such  purpose.  The  post  office address may be
  changed in the manner provided in section two hundred of this article.
2023 New York Laws › BNK - Banking › Article 5 - Foreign Banking Corporations and National Banks › 208 - Nondiscriminatory Treatment of Insured State Banks and National Banks.

§ 208. Nondiscriminatory treatment of insured state banks and national
  banks. Notwithstanding any other laws of this state, a state bank, which
  is  incorporated  in  another  state  and  whose deposits are insured by
  Federal Deposit Insurance Corporation, shall have the  same  protection,
  privileges  and  immunities,  including the right to sue, collect debts,
  realize on collateral security, enforce liens, claims  and  obligations,
  and  protect  its  property  in  this  state,  as  a national bank whose
  principal office is located in the same state as such  state  bank,  and
  such state bank and its shares, securities and evidences of indebtedness
  shall  enjoy the same privileges, protections and immunities as those of
  such a national bank  and  shall  not  be  subject  to  any  disability,
  incapacity,  restriction,  regulation,  penalty,  fee,  fine or taxation
  which is not imposed by this state in the case of such a national  bank,
  provided  however  that this section shall not apply with respect to any
  state bank and its shares,  securities  and  evidences  of  indebtedness
  unless  such  state  bank's  state  of  incorporation has a statute with
  provisions substantially similar to this section which is applicable  to
  a  state  bank  incorporated  in this state. As used in this section the
  term "state bank" shall mean any commercial bank or trust company.
2023 New York Laws › BNK - Banking › Article 5-A - New York Business Development Corporation › 210 - Establishment.

§ 210.  Establishment.  1. There is hereby created a corporation which
  shall be known as  the  "New  York  Business  Development  Corporation".
  Process  in  any  action  or  proceeding against such corporation may be
  served upon the secretary of state, as agent  of  such  corporation  for
  such  purpose.  If  such corporation fails to commence business by April
  first, nineteen hundred fifty-eight, its existence shall  terminate  and
  the provisions of this article shall become null and void.
2.  The  business  corporation  law  applies  to the New York Business
  Development Corporation, except that in case of a conflict  between  the
  business corporation law and this article the provisions of this article
  shall  govern.  If  there  is  in this article a provision relating to a
  matter embraced in the business corporation  law  and  not  in  conflict
  therewith,   both   provisions   shall  apply.  The  New  York  Business
  Development  Corporation  shall  be  treated  as  a  "corporation",   or
  "domestic   corporation",  as  such  terms  are  used  in  the  business
  corporation law, except that the purposes for which such corporation  is
  formed under this article shall not thereby be extended.
3.  For the purpose of this section and elsewhere in this article, the
  effective date of the business  corporation  law  as  to  the  New  York
  Business  Development  Corporation  shall  be  September first, nineteen
  hundred sixty-four.
2023 New York Laws › BNK - Banking › Article 5-A - New York Business Development Corporation › 211 - Economic Regions.

§ 211.  Economic  regions. For the purposes of this article, the state
  is hereby divided into twelve economic regions, as follows:
1. Binghamton region. The counties of Broome, Chenango,  Delaware  and
  Otsego.
2.  Capital district-Champlain region. The counties of Clinton, Essex,
  Rensselaer,  Albany,  Saratoga,  Schoharie,  Schenectady,   Warren   and
  Washington.
3.  Elmira  region.  The counties of Chemung, Schuyler, Steuben, Tioga
  and Tompkins.
4. Mid-Hudson region. The  counties  of  Dutchess,  Columbia,  Greene,
  Orange, Putnam, Sullivan and Ulster.
5.  Mohawk  Valley region. The counties of Fulton, Hamilton, Herkimer,
  Montgomery and Oneida.
6. Nassau-Suffolk region. The counties of Nassau and Suffolk.
7. New York city region. The  counties  of  Bronx,  Kings,  New  York,
  Queens and Richmond.
8. Niagara-southwestern region. The counties of Allegany, Cattaraugus,
  Chautauqua, Erie and Niagara.
9. Northern region. The counties of Franklin, Jefferson, Lewis and St.
  Lawrence.
10.  Rochester  region.  The  counties of Genesee, Livingston, Monroe,
  Ontario, Orleans, Seneca, Wayne, Wyoming and Yates.
11. Syracuse  region.  The  counties  of  Cayuga,  Cortland,  Madison,
  Onondaga and Oswego.
12.   Westchester-Rockland   region.  The  counties  of  Rockland  and
  Westchester.
2023 New York Laws › BNK - Banking › Article 5-A - New York Business Development Corporation › 214 - Committees.

§ 214.  Committees.  1.  There  shall  be  a  loan  committee  of such
  corporation for each of  the  twelve  economic  regions  as  defined  in
  section  two hundred eleven of this chapter or such other regions as the
  board of  directors  shall  designate  for  this  purpose.    Each  such
  committee  shall  include  such  persons as the board of directors shall
  designate.
2. The board of directors of such corporation may establish an  office
  for any such loan committee, within such committee's economic region.
3.  Every  application  to  such  corporation  for a loan or financial
  assistance shall be made through the loan  committee  for  the  economic
  region  wherein  the  applicant  resides or maintains a regular place of
  business, or directly to one of the regional offices of the corporation.
  Any such applications made  to  a  regional  office  shall  be  promptly
  referred  to  the  loan  committee  for  the economic region wherein the
  applicant resides or maintains a regular place  of  business.  All  such
  applications shall thereupon be reviewed by such regional loan committee
  and promptly transmitted by it to the central loan committee established
  by   the   board   of   directors  for  consideration,  along  with  the
  recommendations of such regional loan committee with respect thereto.
4. The board of directors shall have the responsibility to appoint all
  necessary board and officer committees to provide for prudent management
  and oversight of such corportion.
2023 New York Laws › BNK - Banking › Article 5-A - New York Business Development Corporation › 216 - Capital Stock.

§ 216.  Capital  stock. The capital stock of such corporation shall be
  five hundred thousand shares of common  and  preferred  stock,  in  such
  amounts  as  shall  be  established  in  the  by-laws  by  the  board of
  directors,  with  the  preferred  stock  having  such  relative  rights,
  preferences  and  limitations  as shall be established in the by-laws by
  the board of directors.  At least a majority of  the  capital  stock  of
  such corporation shall at all times be held by residents of the state or
  by persons, firms or corporations engaged in doing business therein.
2023 New York Laws › BNK - Banking › Article 5-A - New York Business Development Corporation › 217 - Surplus, Obligations and Depositories.

§ 217.  Surplus,  obligations  and  depositories.  1. Such corporation
  shall set apart as an earned surplus all of its net earnings in each and
  every year until such earned  surplus  shall  equal  the  total  of  the
  paid-in  capital  and  paid-in  surplus  then outstanding.   Said earned
  surplus shall be held in cash,  invested  in  United  States  government
  bonds,  or  as provided in such corporation's by-laws, and shall be kept
  and used to meet losses  and  contingencies  of  such  corporation  and,
  whenever the amount of earned surplus shall become impaired, it shall be
  built  up  again  to  the required amount in the manner provided for its
  original accumulation.
2. At no time shall the total obligations of such  corporation  exceed
  ten  times  the amount of its paid-in capital and surplus, not including
  therein the earned  surplus,  or  two  hundred  fifty  million  dollars,
  whichever is greater.
3.  Such corporation shall not deposit any of its funds in any banking
  organization unless such banking organization has been designated  as  a
  depository  by  a  vote  of the majority of all of the directors of such
  corporation, exclusive of any director who is an officer or director  of
  the  depository  so designated. Such corporation shall not receive money
  on deposit. Such corporation  shall  not  make  any  loans  directly  or
  indirectly  to  any  of its officers or to any firms in which any of its
  officers is a member or officer.
2023 New York Laws › BNK - Banking › Article 5-A - New York Business Development Corporation › 218 - Supervision and Reports.

§ 218.  Supervision  and reports. Such corporation shall be subject to
  the supervision,  examination  and  control  of  the  superintendent  of
  financial  services  in  the same manner as banking organizations are so
  supervised, examined and controlled by him pursuant to this chapter, and
  shall be examined by him annually, but such  corporation  shall  not  be
  deemed  to  be  a  banking organization nor be required to pay a fee for
  such an examination. Such corporation shall make an annual report of its
  condition to the governor, legislature and superintendent  of  financial
  services, on or before January first of each year.
Commencing  January  first,  nineteen  hundred eighty-six, such annual
  report shall contain but not be limited to the following:
a. information on the cost and sources of funds and  capital  and  the
  total  allowable  maximum  amount  available  from  members, the maximum
  amount committed  by  each  individual  member,  and  the  corporation's
  outstanding liabilities to members;
b.  classification of firms in the corporation's portfolio by standard
  industrial code, including a breakdown of (i) size of firms by sales and
  number  of  employees,  (ii)  number  and   percentage   of   loans   to
  manufacturing,  service  and  wholesale businesses, and (iii) number and
  percentage of loans to traditional industries  and  to  high  technology
  firms within the manufacturing sector;
c.  information on the types of financing provided by the corporation,
  including guaranteed loans, the size and term of loans, and a  breakdown
  of investments by senior debt, subordinated debt and equity financings;
d.  information  on  interest  rates of loans, including percentage of
  fixed rate and variable rate loans;
e. information on the use of  capital  provided  by  the  corporation,
  including  number  of  working  capital loans, loans to assist leveraged
  buyouts by employees, management or others, and  secured  mortgages  for
  plant expansion or new production facilities;
f.  information  on  how  the corporation is fulfilling its mission to
  assist women and minority owned businesses;
g.  information  on  resources  and  actions  taken  to  advance   the
  corporation's marketing program;
h.  information  on  the  corporation's  regional offices, including a
  description of the volume of business and the nature of loan activity at
  each office;
i. information on the activities of the corporation's MESBIC; and
j. information on the corporation's pilot  export  financing  program,
  including  the  number  of  firms  serviced  and the types of assistance
  provided.
2023 New York Laws › BNK - Banking › Article 5-A - New York Business Development Corporation › 219 - Unissued Securities and Reorganization.

§ 219.  Unissued  securities  and  reorganization.  1.  The holders of
  capital  stock  of  such  corporation  shall  not,  as  such,  have  any
  preemptive  or  preferential right to purchase or subscribe for any part
  of the unissued or new issue  of  capital  stock  of  such  corporation,
  whether  now  or  hereafter  authorized  or  issued,  or  to purchase or
  subscribe for any bonds or other obligations, whether or not convertible
  into stock of such corporation, now or hereafter authorized or issued.
2. Whenever a compromise or arrangement or any plan of  reorganization
  of  such  corporation  is  proposed  between  such  corporation  and its
  creditors, members or stockholders, the supreme court, by virtue of  its
  general  equity powers may, on application of such corporation or of any
  creditor, member or stockholder thereof, or on the  application  of  any
  receiver or receivers appointed for such corporation, order a meeting of
  such  creditors,  members or stockholders, as the case may be, as may be
  affected  by  the  proposed  compromise  or  arrangement  or   plan   of
  reorganization,  which  shall be called in such manner as the said court
  directs. If, at such meeting, such compromise or arrangement or plan  of
  reorganization  is  agreed  to  by  or  on  behalf  of the creditors, if
  affected thereby, holding two-thirds in amount  of  the  claims  against
  such  corporation,  and by or on behalf of the stockholders, if affected
  thereby, holding the majority of capital stock, and by or on  behalf  of
  the  members,  if  affected thereby, holding two-thirds in amount of the
  outstanding  notes  or  other  interest-bearing  obligations   of   such
  corporation  as  provided  for  in  section  two hundred fifteen of this
  chapter, and if such agreement shall be further evidenced by the written
  acceptance of said creditors, stockholders and members,  duly  filed  in
  the said court, such compromise or arrangement or plan of reorganization
  shall,  if  approved by the said court as just and equitable, be binding
  on all creditors, stockholders or members, as the case may be,  who  are
  affected  thereby,  and also on such corporation. All persons who become
  creditors, stockholders or members of such corporation shall  be  deemed
  to  have  become  creditors,  stockholders  or  members  subject  in all
  respects to this section, and the same shall be absolutely binding  upon
  them.  For  the  purposes of this subdivision only, members shall not be
  deemed to be creditors  and  shall  act  under  this  subdivision  as  a
  separate class.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-A - Doing Business Without License Prohibited.

§ 221-a.  Doing  business  without  license  prohibited. 1. No person,
  co-partnership,  association,  corporation   or   other   entity   shall
  establish,  maintain  or  use  one  or more offices in this state as the
  representative of one or more foreign banking  corporations  unless  the
  foreign  banking  corporation  to  be  represented  has first obtained a
  license from the superintendent of financial services. Entities lawfully
  registered pursuant to  this  article  on  or  before  September  first,
  nineteen  hundred  ninety-two  shall be deemed licensed pursuant to this
  section until September first, nineteen  hundred  ninety-four,  provided
  however  that  the  superintendent  may  require  the  submission of any
  additional documents or materials relating to the business activities of
  the registrant as he or she may deem necessary or appropriate.
2. Upon receipt of a license,  the  foreign  banking  corporation  may
  establish  one  or more representative offices in this state which shall
  be subject to examination whenever in the superintendent's judgment such
  examination is necessary or advisable.
3.  Such  office  shall  be  limited  to  conducting   the   following
  activities:  solicitation of loans and in connection therewith, assembly
  of  credit  information,  making of property inspections and appraisals,
  securing of title information, preparation  of  applications  for  loans
  including   making  recommendations  with  respect  to  action  thereon,
  solicitation of investors to purchase loans from the  bank,  the  search
  for  such  investors to contract with the bank for the servicing of such
  loans; solicitation of new business and conduct of research.  Any  other
  activity  which the foreign banking corporation seeks to conduct at such
  office,  shall  be  subject  to  the  prior  written  approval  of   the
  superintendent by general regulation or upon application in such form as
  the superintendent may prescribe.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-B - Definitions.

§ 221-b.  Definitions.  1.  Banking  institution.  The  term  "banking
  institution",  when  used  in  this  article,  shall  mean  any   entity
  authorized by its charter to accept deposits and to make loans.
2.   Foreign   banking   corporation.   The   term   "foreign  banking
  corporation",  when  used  in  this  article,  shall  mean  any  banking
  institution  organized under the laws of any jurisdiction other than the
  United States, any state of the United States or Puerto Rico.
3. Representative. The term "representative" shall mean any person  or
  entity  engaging  in  any  activity  in this state for or on behalf of a
  foreign  banking  corporation,  provided  that  such  activity  is   not
  otherwise permitted by law.
4.  The  superintendent  shall  be authorized to exempt from the above
  definitions such additional persons,  entities,  activities  or  classes
  thereof  which  shall  be  deemed appropriate in order to effectuate the
  purposes of this article.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-C - Application for License; Fees.

§ 221-c.  Application  for  license;  fees.  The  application for such
  license shall be in writing under oath and shall contain the information
  required by and be in the form prescribed by the superintendent. As part
  of the application, the foreign banking corporation  shall  appoint  the
  superintendent  or  his or her successor as agent for service of process
  in connection with any action or proceeding against the foreign  banking
  corporation  relating  to  any  cause of action which may arise out of a
  transaction with its representative office,  with  the  same  force  and
  effect as if it were a domestic corporation and had been lawfully served
  with  process in this state. At the time of making such application, the
  applicant shall pay  to  the  superintendent  an  investigation  fee  as
  prescribed pursuant to section eighteen-a of this chapter.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-D - Conditions Precedent to Issuing License; Procedure Where Application Denied.

§ 221-d.  Conditions  precedent  to  issuing  license; procedure where
  application denied. Upon the filing of an application for a license,  if
  the   superintendent  shall  find  that  the  financial  responsibility,
  experience, character,  and  general  fitness  of  the  foreign  banking
  corporation and its representative are such as to command the confidence
  of  the  community  and  to  warrant belief that the representative will
  operate honestly, fairly, and efficiently within the purpose and  intent
  of  this  article,  a  license shall thereupon be issued in duplicate to
  conduct the activity described in  section  221-a  of  this  article  in
  accordance  with  the  provisions of this article. If the superintendent
  shall not so find, the license shall not be issued,  and  the  applicant
  shall  be  notified of the denial. The superintendent shall transmit one
  copy of such license to the applicant and file another in the office  of
  the  department of financial services. Such license shall remain in full
  force and effect until it is surrendered by the licensee or  revoked  or
  suspended  as  hereinafter provided. The superintendent shall approve or
  deny every application for a license hereunder within ninety  days  from
  the  filing  thereof  provided,  however, that failure to act within the
  prescribed period shall not be deemed approval of any such application.