2023 New York Laws › BNK - Banking › Article 2 - Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers › 24 - Investigation by Superintendent; Refusal or Approval; Filing Certificate.

§  24.  Investigation  by  superintendent; refusal or approval; filing
  certificate. 1. Within ninety days after the date when any  organization
  certificate  or  private  banker's certificate shall have been filed for
  examination, the superintendent, if the superintendent shall find  after
  investigation and examination of what the superintendent deems to be the
  best sources of information available that the character, responsibility
  and  general  fitness of the person or persons named in such certificate
  are such as to command confidence and warrant belief that  the  business
  of  the  proposed  corporation  or  private  banker will be honestly and
  efficiently conducted in accordance with the intent and purpose of  this
  chapter,  and that the public convenience and advantage will be promoted
  by allowing such proposed corporation or private  banker  to  engage  in
  business,  shall  approve  such certificate. An extension of such ninety
  day period may be requested, by a written request executed by a majority
  of the persons from whom the superintendent received  such  organization
  certificate   or  private  banker's  certificate,  for  such  additional
  reasonable period of time as may be required for  applicants  to  comply
  with  conditions  precedent  stipulated by the superintendent as being a
  prerequisite  to  his  or  her  approval.  The  superintendent,  in  the
  superintendent's  sole discretion, shall determine whether to grant such
  an extension.
2. The superintendent shall also endorse upon each of  the  duplicates
  the  date  of  such  approval.  The superintendent shall forthwith cause
  notice of such approval to be given to  the  proposed  incorporators  or
  private  banker  and one of the duplicate certificates shall be filed in
  the office of the department and the other in the office of the clerk of
  the county in which the principal office of such proposed corporation or
  private banker is to be located. In a case in  which  a  private  banker
  certificate  is  submitted  to  the  superintendent  for  the purpose of
  continuing the business in connection with a change in its  partnership,
  the  superintendent  shall  approve  the private banker certificate upon
  making a determination that the private banker should  be  permitted  to
  continue  its  business  based  upon  the  considerations  set  forth in
  subdivision one of this section.
3. If the superintendent is not satisfied, upon the considerations set
  forth in subdivision one of this section, that such proposed corporation
  or private banker  should  be  permitted  to  engage  in  business,  the
  superintendent  shall  refuse such certificate and shall endorse thereon
  the date of such refusal  and  return  one  of  the  duplicates  to  the
  proposed  incorporators or private banker from whom such certificate was
  received.
4. The provisions of this section shall not apply to any  organization
  certificate  required to be filed in the office of the superintendent by
  section one hundred thirty-six,  by  section  two  hundred  sixty-b,  by
  section  four  hundred ten, by section four hundred eleven or by section
  four hundred eighty-six of this chapter.