2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 105 - Branch Offices; Prohibition Against Doing Business at Unauthorized Places.

§ 105.   Branch   offices;   prohibition  against  doing  business  at
unauthorized places. 1.  (a)  No  bank  or  trust  company  or  officer,
director,  agent  or  employee  thereof,  shall transact any part of its
usual business of banking at any place other than its principal  office,
except  that  a  bank  or  trust company may open and occupy one or more
branch offices at any location in the  state,  provided:  (i)  that  the
requirements  of  section  twenty-nine  of this chapter are met and (ii)
that, except for the city or village in which its  principal  office  is
located,  in  no event shall a branch be opened and occupied pursuant to
this subdivision in a  city  or  village  with  a  population  of  fifty
thousand  or  less  in  which is already located the principal office of
another bank, trust company or national banking association, other  than
a  bank  holding  company,  if  such  bank  holding company is a banking
institution, or a banking subsidiary of a bank holding company (as  such
terms   "bank  holding  company",  "banking  institution"  and  "banking
subsidiary" are  defined  in  section  one  hundred  forty-one  of  this
chapter)  except  that  the  definition  of  "bank  holding  company" is
modified to change  the  phrase  "a  banking  institution"  wherever  it
appears therein to "two or more banking institutions" and the definition
of   "banking  institution"  is  modified  to  add  a  national  banking
association, the principal office of which  institution  is  located  in
this  state,  except,  in  the  case  of  a  conversion  pursuant to the
provisions of this article, branch offices  occupied  immediately  prior
thereto  or  except  for  the  purpose  of  acquiring by merger, sale or
otherwise the business and property of a bank, trust company or national
banking association, whether in liquidation or  doing  business  in  the
usual course.
(b)  An  office of an affiliated bank at which the customers of a bank
or  trust  company  may  make  deposits,  renew  time   deposits,   make
withdrawals,  close  loans, service loans, and receive payments on loans
and other obligations shall not be deemed a branch office of  such  bank
or trust company. For the purposes of this section, the term "affiliated
bank"  means any bank, as such term is defined in section 3(a)(1) of the
Federal  Deposit  Insurance  Act  (12  U.S.C.  1813(a)(1)),  that  is  a
subsidiary  of the same bank holding company, as that term is defined in
section 2 of the Bank Holding Company Act (12 U.S.C. 1841).
2. Hereafter before  any  branch  or  branches  shall  be  opened  and
occupied  pursuant to subdivision one of this section the superintendent
shall have given his written approval as provided in article two of this
chapter.
3. (a) Any bank or trust company may with the written approval of  the
superintendent, open and occupy a branch office or branch offices in one
or  more  places  located  without  the state of New York, either in the
United States of America or in foreign countries.
(b) If any bank or trust company has  opened  and  occupied  a  branch
office  in a foreign country pursuant to the provisions of paragraph (a)
of  this  subdivision,  it  may,  unless  otherwise   advised   by   the
superintendent,  open  and  occupy an additional branch office or branch
offices in such country without having to apply for the approval of  the
superintendent,  provided  that it gives the superintendent notice of at
least thirty days (or such  shorter  period  as  the  superintendent  in
individual  cases  may  approve)  before  opening and occupying any such
additional branch office.
4. The term "village" as used in this section  shall  mean  either  an
incorporated or an unincorporated village.
5. (a) A bank or trust company may, if the merger or asset acquisition
is permitted by law, and if the merger or asset acquisition agreement so
provides,  maintain as a branch office or branch offices or trust office

or trust offices, the place or places of business  of  any  bank,  trust
company,   safe   deposit   company,   national   banking   association,
out-of-state state bank or out-of-state trust company (as such terms are
defined  in  section  two  hundred  twenty-two of this chapter), savings
bank, or savings and loan association, federal savings bank  or  federal
savings and loan association which it has received into itself by merger
or  by  acquisition of assets thereof pursuant to the provisions of this
chapter and, if the merger or acquisition  agreement  so  provides,  may
maintain,  as  its  principal  office  rather  than as a branch or trust
office, the principal office of such banking institution with  which  it
has  merged  or  from  which  it  has  acquired  assets (so long as such
principal office is located in this state), in which  event  the  former
principal office of the receiving or acquiring bank or trust company may
be  maintained  as  a  branch  office.  A  state  bank  or trust company
resulting from the conversion of a national banking association may,  if
the  conversion  agreement  so  provides, maintain as a branch office or
branch offices or trust office or trust offices the place or  places  of
business   of   the  national  banking  association.  As  used  in  this
subdivision, the term "place or places of business"  shall  include  any
branch  office  or  trust  office  of  the  banking institution that was
converted, merged or the assets of which were acquired  which  has  been
approved  pursuant  to this chapter or federal law or the law of another
state, as the case may be, even if such branch office or trust office is
not  in  operation  at  the  time  said  merger,  asset  acquisition  or
conversion becomes effective.
(b)  Notwithstanding anything to the contrary in paragraph (a) of this
subdivision, any public accommodation office of a  merging  or  acquired
banking organization or association, including any such office which has
been approved pursuant to section one hundred ninety-one of this chapter
but  which  is  not  in operation at the time said merger or acquisition
becomes effective, may be maintained by the receiving or acquiring  bank
or trust company as a public accommodation office only.