reglab/statecodes huggingface dataset:
2023 New York Laws › BNK - Banking › Article 12-E - Licensed Mortgage Loan Originators › 599-I - Standards for License Renewal; Inactive Status.

§  599-i. Standards for license renewal; inactive status. 1. Standards
for renewal. The following minimum standards  for  license  renewal  for
mortgage loan originators are hereby established:
(a)  The  mortgage  loan  originator must continue to meet the minimum
standards for  license  issuance  set  forth  in  section  five  hundred
ninety-nine-e of this article;
(b)  The  mortgage  loan originator must satisfy the annual continuing
education requirements described in section five  hundred  ninety-nine-j
of this article; and
(c)  The mortgage loan originator must have paid all required fees for
the renewal of the license.
2. Failure to satisfy  standards.  The  license  of  a  mortgage  loan
originator  failing  to  satisfy the minimum standards for renewal shall
terminate. In the event the licensed mortgage loan originator  fails  to
pay  such  fee  or  otherwise  satisfy this section, then the department
shall notify the originating entity of the termination of  the  license.
Such  license  shall  be  reinstated, in the case of a licensed mortgage
loan originator failing  to  timely  pay  such  fee,  if  such  licensed
mortgage  loan  originator  pays  such fee within sixty days of such due
date.
3. Submission of annual request. An annual request for  renewal  of  a
license  as a mortgage loan originator shall be affirmed by the mortgage
loan originator and  submitted  electronically,  including  through  the
NMLSR,  in  such  form  and  in  such manner as may be prescribed by the
superintendent. The  annual  request  for  renewal  shall  contain  such
information as specified by the superintendent.
4.  Inactive  status. The license of a mortgage loan originator is not
effective during any period during which the mortgage loan originator is
not employed by, or is an  independent  contractor  of,  an  originating
entity.  When a mortgage loan originator ceases to be employed by, or is
an independent contractor of, an  originating  entity,  the  originating
entity  shall promptly notify the superintendent of the termination date
of such employment or affiliation. The license  of  such  mortgage  loan
originator  shall  be placed in inactive status until the superintendent
receives written or electronic notice of the mortgage loan  originator's
new employment or affiliation. A mortgage loan originator shall continue
to  pay  the  annual  license fee and to take required education courses
while in inactive status.
2023 New York Laws › BNK - Banking › Article 12-E - Licensed Mortgage Loan Originators › 599-K - Required Surety Bond.

§  599-k. Required surety bond. 1. Each mortgage loan originator shall
  be covered by a surety bond in accordance  with  this  section.  In  the
  event  that  the  mortgage  loan  originator is an employee or exclusive
  agent of an originating entity, the surety bond of such  person  may  be
  used  to satisfy the mortgage loan originator's surety bond requirement;
  provided that such surety bond contains coverage for each mortgage  loan
  originator  not  otherwise  covered  by  a  qualifying surety bond in an
  amount prescribed in subdivision two of this section.  The  surety  bond
  shall  be in a form prescribed by the superintendent. The superintendent
  may promulgate rules or regulations with respect to the requirements for
  such surety bonds as are necessary to accomplish the  purposes  of  this
  article.
2. The penal amount of the required surety bond shall be maintained in
  an  amount  that  reflects  the dollar amount of loans originated by the
  mortgage loan originator as determined by the superintendent.
3.  When  an  action  is  commenced  on   a   licensee's   bond,   the
  superintendent may require the filing of a new or supplemental bond.
4.  Immediately upon recovery upon any claim or action on or under the
  bond, the mortgage loan originator (or the  originating  entity  as  the
  case  may  be), shall file a new or supplemental bond restoring the face
  amount of the bond to the amount required by the superintendent.
2023 New York Laws › BNK - Banking › Article 12-E - Licensed Mortgage Loan Originators › 599-L - Reports by the Superintendent; Permissive Challenges by Licensees.

§  599-l.  Reports  by  the  superintendent;  permissive challenges by
  licensees.  1.  Notwithstanding  any  other  provisions  of   law,   the
  superintendent  shall report on a regular basis, not more than annually,
  all violations of this article, as well as enforcement actions and other
  relevant information, to the NMLSR subject to the  provisions  contained
  in  the confidentiality provisions of section five hundred ninety-nine-q
  of this article.
2. The superintendent shall establish a  process  whereby  a  mortgage
  loan  originator may challenge information entered into the NMLSR by the
  superintendent.
2023 New York Laws › BNK - Banking › Article 12-E - Licensed Mortgage Loan Originators › 599-O - Rules, Regulations and Examinations.

§ 599-o. Rules, regulations and examinations. 1. The superintendent is
  hereby  authorized  and empowered to make such rules and regulations and
  interim procedures for licensing and acceptance of applications  as  may
  in  his  or  her  judgment be necessary or appropriate for the effective
  administration  or  enforcement  of  this   article.   For   individuals
  previously  authorized  to  act  as mortgage loan originators under this
  chapter, the superintendent may establish expedited review and licensing
  procedures.
2. For the purpose  of  discovering  violations  of  this  article  or
  securing  information  lawfully  required  by  him or her hereunder, the
  superintendent may at any time, and as often as he or she may determine,
  investigate the business and examine the books, accounts,  records,  and
  files  of  every  licensee  under this article and any entity with which
  such individual is associated as an employee or independent  contractor.
  For  that  purpose  the  superintendent  shall  have  free access to the
  offices and places of business, books, accounts, papers, records, files,
  safes and vaults of all such entities.  The  superintendent  shall  have
  authority  to  require  the  attendance of and to examine under oath all
  persons whose testimony he  or  she  may  deem  necessary  or  desirable
  relative   to  such  business.  The  expenses  incurred  in  making  any
  examination pursuant to this section shall be assessed against and  paid
  by  the  licensee  so  examined,  except  that traveling and subsistence
  expenses so incurred shall be charged against and paid by  licensees  in
  such  proportions  as the superintendent shall deem just and reasonable,
  and such proportionate charges shall be added to the assessment  of  the
  other  expenses  incurred  upon each examination. Upon written notice by
  the superintendent of the total amount of such assessment, the  licensee
  shall   become   liable  for  and  shall  pay  such  assessment  to  the
  superintendent.
2023 New York Laws › BNK - Banking › Article 12-E - Licensed Mortgage Loan Originators › 599-P - Unique Identifier.

§  599-p.  Unique  identifier.  The  unique  identifier  of any person
  originating a residential mortgage loan shall be clearly  shown  on  all
  residential   mortgage   loan   application   forms,   solicitations  or
  advertisements, including business cards  or  websites,  and  any  other
  documents   as   established   by  rule,  regulation  or  order  of  the
  superintendent.
2023 New York Laws › BNK - Banking › Article 12-E - Licensed Mortgage Loan Originators › 599-Q - Confidentiality.

§   599-q.   Confidentiality.  In  order  to  promote  more  effective
  regulation and reduce regulatory burden through supervisory  information
  sharing,  information  provided to the superintendent by an MLO shall be
  subject to the following:
1. Except as otherwise provided in public law 110-289,  section  1512,
  the  requirements  under any federal law, the freedom of information law
  ("FOIL")  or  other  law  of  this  state  regarding  the   privacy   or
  confidentiality  of  any  information or material provided to the NMLSR,
  and any privilege arising under federal  or  state  law  (including  the
  rules of any federal or state court) with respect to such information or
  material,  shall continue to apply to such information or material after
  the information or material  has  been  disclosed  to  the  NMLSR.  Such
  information  and  material  may  be  shared  with  all state and federal
  regulatory officials with mortgage industry oversight authority  without
  the  loss  of  privilege  of  the  loss  of  confidentiality protections
  provided by federal law, FOIL or this chapter.
2. For these purposes, the superintendent is authorized to enter  into
  agreements or sharing arrangements with other governmental agencies, the
  Conference  of  State  Bank  Supervisors,  the  American  Association of
  Residential  Mortgage  Regulators  or  other  associations  representing
  governmental agencies as established by rule, regulation or order of the
  superintendent.
2023 New York Laws › BNK - Banking › Article 12-E - Licensed Mortgage Loan Originators › 599-R - Construction.

§  599-r.  Construction.  Nothing  contained  in this article shall be
  deemed to impair, alter or render ineffective any provision  of  article
  twelve-D  of  this  chapter,  including but not limited to any provision
  thereof relating to issuing, suspending or revoking any mortgage  banker
  license or mortgage broker registration.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 600 - Merger; When Authorized.

§ 600.  Merger;  when  authorized.  The  following  mergers are hereby
authorized:
(1) One or more corporations organized under the laws  of  this  state
and  subject  to the provisions of article three, article eight, article
eleven or article  twelve  of  this  chapter  with  another  corporation
subject to the provisions of the same article.
(2) One or more mutual savings banks with another mutual savings bank.
(3)  One  or  more  mutual  savings and loan associations with another
mutual savings and loan association.
(4) One or more mutual savings and loan associations with one or  more
mutual savings banks.
(5) One or more safe deposit companies with a bank or trust company.
(6)  One  or  more banks, trust companies, stock-form savings banks or
stock-form savings and loan associations, with one or more  out-of-state
banks  or  out-of-state  trust  companies  as  such terms are defined in
section two hundred twenty-two of this chapter.
(7) One or more subsidiaries or affiliates of a bank,  trust  company,
savings  bank  or  savings  and  loan association, which are not a bank,
trust company, savings bank or savings and loan  association,  as  those
terms  are  defined in section two of this chapter, with the bank, trust
company, savings bank or savings and loan association of which it  is  a
subsidiary  or  affiliate,  as  the superintendent of financial services
shall approve and enter on its records; provided, however, that  nothing
in  this subdivision shall be deemed to authorize a bank, trust company,
savings bank or savings and loan association to exercise  any  power  or
engage in any activity that it may not exercise or engage in pursuant to
this  chapter.  The  superintendent of financial services may promulgate
such regulations as he or she deems necessary and  proper  to  implement
and   define  the  provisions  of  this  subdivision.  Nothing  in  this
subdivision shall alter, affect or impair any regulation  or  resolution
adopted,  or  that  may  be  adopted, by the superintendent of financial
services, pursuant to section twelve-a or former sections fourteen-g  or
fourteen-h of this chapter.
(8)  Such  other mergers between and among banking institutions as the
superintendent of financial services may authorize.  The  superintendent
may  promulgate such regulations as he or she deems necessary and proper
to implement and define the provisions of this paragraph.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 601-B - Approval or Disapproval of Merger or Purchase of Assets.

§ 601-b.  Approval  or disapproval of merger or purchase of assets. 1.
  The superintendent shall approve or disapprove of a proposed  merger  as
  authorized  by  section  six  hundred  of  this  chapter  or  a proposed
  acquisition of all or a substantial part of the assets  of  any  banking
  organization as authorized by section six hundred one-a of this chapter,
  as  the case may be, within one hundred twenty days after the submission
  of the proposed plan thereof  to  him.  In  determining  whether  to  so
  approve,  the  superintendent  shall  take  into  consideration  (i) the
  declaration of policy contained in section ten  of  this  chapter,  (ii)
  whether  the  effect  of  such  merger or acquisition shall be either to
  expand the size or extent of  the  resulting  or  acquiring  institution
  beyond  limits  consistent  with  adequate  and  sound  banking  and the
  preservation thereof or result  in  a  concentration  of  assets  beyond
  limits  consistent with effective competition, (iii) whether such merger
  or acquisition may result in such a lessening of competition  as  to  be
  injurious  to  the  interests  of the public or tend toward monopoly and
  (iv) primarily, the  public  interest  and  the  needs  and  convenience
  thereof.  If  the  superintendent  shall approve such proposed merger or
  acquisition, he shall file the plan, together with such certificates and
  the original of the approval of the superintendent, in the office of the
  superintendent, and, in the case of merger, a  duplicate  of  the  plan,
  together  with  a duplicate of each of such certificates and a duplicate
  of the superintendent's approval, shall be filed in the  office  of  the
  clerk  of  the  county  in  which  the principal office of the receiving
  corporation  is  located.  Upon  such  filing  in  the  office  of   the
  superintendent, the merger or acquisition shall become effective, unless
  a  later  date  is  specified  in the plan, in which event the merger or
  acquisition shall become effective upon such later date.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 602 - Effect of Merger.

§ 602. Effect of merger. At the time when a merger becomes effective:
(1)  the  receiving  corporation shall be considered the same business
and corporate entity as each corporation merged into it;
(2) all  of  the  property,  rights,  powers  and  franchises  of  any
corporation  that  shall  be  so  merged  shall  vest  in  the receiving
corporation and the receiving corporation shall be  subject  to  and  be
deemed  to  have  assumed all of the debts, liabilities, obligations and
duties of such merged corporation and to have succeeded to  all  of  its
relationships,  fiduciary  or otherwise, as fully and to the same extent
as if such property, rights,  powers,  franchises,  debts,  liabilities,
obligations,  duties  and  relationships  had  been originally acquired,
incurred or entered into by the receiving corporation;
(3) any reference to a merged corporation in  any  contract,  will  or
document,  whether executed or taking effect before or after the merger,
shall be considered a reference to  the  receiving  corporation  if  not
inconsistent  with  the  other  provisions  of  the  contract,  will  or
document;
(4) a pending  action  or  other  judicial  proceeding  to  which  any
corporation  that  shall be so merged is a party, shall not be deemed to
have abated or to have discontinued by reason of the merger, but may  be
prosecuted  to  final judgment, order or decree in the same manner as if
the merger had not been  made;  or  the  receiving  corporation  may  be
substituted  as  a party to such action or proceeding, and any judgment,
order or decree may be rendered for or against it that might  have  been
rendered  for  or  against  such other corporation if the merger had not
occurred.
No corporation organized under or subject to the  provisions  of  this
chapter   which   subsequent   to   January   first,   nineteen  hundred
thirty-eight, receives or has received into itself by merger pursuant to
any provision of law a corporation organized under  or  subject  to  the
provisions  of  any  law  other  than  this  chapter shall, through such
merger, acquire power to engage in  any  business  or  to  exercise  any
right,  privilege  or franchise which is not conferred by the provisions
of this chapter upon such receiving corporation.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 603 - Issuance of New Certificates of Stock or Other Consideration.

§ 603.  Issuance  of new certificates of stock or other consideration.
  The receiving  corporation  may  require  the  return  of  the  original
  certificate  or  certificates held by each stockholder or shareholder in
  such other corporation or corporations and may issue in lieu thereof new
  certificates for such number of its own shares, or pay or  deliver  such
  other  consideration, as such stockholder or shareholder may be entitled
  to receive under the merger plan.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 604 - Rights of Dissenting Stockholders.

§ 604. Rights of dissenting stockholders.
The  following  stockholders  shall,  subject to and by complying with
  section six thousand twenty-two of  this  chapter,  have  the  right  to
  receive  payment  of the fair value of their shares and the other rights
  and benefits provided by such section:
1.  In  the  case  of  a  merger  pursuant  to  a  plan  submitted  to
  stockholders  as  provided in subdivision two of section six hundred one
  of this chapter, any stockholder of the merging corporation entitled  to
  vote thereon who does not assent thereto;
2.  In  the  case  of  a  plan  of  acquisition of assets submitted to
  stockholders as provided in subdivision two of section six hundred one-a
  of this chapter, any stockholder of the selling corporation entitled  to
  vote thereon who does not assent thereto; and
3.  In  the case of a sale, lease, exchange or other disposition which
  requires stockholder authorization under section six  hundred  one-c  of
  this  chapter,  any  stockholder,  entitled  to  vote  thereon,  of  the
  corporation making such sale, lease, exchange or other  disposition  who
  does  not assent thereto, except in the case of a transaction wholly for
  cash where the stockholders' authorization thereof is  conditioned  upon
  the  distribution  of  all  the  net proceeds of such transaction to the
  stockholders in accordance with their respective  interests  within  one
  year  after the date of such transaction and upon the dissolution of the
  corporation.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 607 - Manner and Time Within Which Taking Possession May Be Tested.

§ 607.  Manner  and time within which taking possession may be tested.
  At  any  time  within  ten  days  after  the  superintendent  has  taken
  possession of the property and business of any banking organization such
  banking  organization  may  apply  to  the supreme court in the judicial
  district in  which  its  principal  office  is  located,  for  an  order
  requiring the superintendent to show cause why he should not be enjoined
  from  continuing  such possession. The court may, upon good cause shown,
  direct the superintendent to refrain from  further  proceedings  and  to
  surrender such possession.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 610 - Resumption of Business in Accordance With Plan of Reorganization.

§ 610.   Resumption   of   business   in   accordance   with  plan  of
  reorganization.  The superintendent, in his  discretion,  may  permit  a
  corporation  of which he has taken possession or which is operating on a
  restricted basis pursuant to regulations promulgated by duly constituted
  authority,  to  resume  business  in   accordance   with   a   plan   of
  reorganization  under  which depositors and other creditors will receive
  less than the full amount of their  claims  and/or  in  partial  payment
  thereof  will  receive  certificates  of  beneficial interest in certain
  segregated assets and/or stock of  such  corporation,  and  under  which
  stockholders  will contribute their shares of capital stock and/or money
  in lieu of assessments upon such stock. In any such case  in  which  the
  superintendent permits resumption of business pursuant to such a plan of
  reorganization,  all  depositors  and  creditors and stockholders of any
  such corporation, whether or not they shall have consented to such  plan
  of  reorganization,  shall  be  fully and in all respects subject to and
  bound by  its  provisions,  and  claims  of  all  depositors  and  other
  creditors  shall  be  treated  as  if  they  had consented to such plan;
  provided,  however,  that  the  superintendent  shall   not   permit   a
  corporation  to  resume  business  in  accordance  with  such  a plan of
  reorganization unless it has been shown to  his  satisfaction  that  (1)
  such  plan  is  fair and equitable to all depositors and other creditors
  and stockholders and is in the public interest and (2)  that  depositors
  and  other  creditors, representing at least eighty per centum in amount
  of its total deposits and other liabilities, exclusive of the claims  of
  depositors and other creditors which will be satisfied in full under the
  plan  of  reorganization, and stockholders owning at least two-thirds of
  its outstanding capital stock, as shown by the books of the corporation,
  have  consented  in  writing  to  such  plan;  provided  further,   that
  permission  to  resume  business  under  any such plan of reorganization
  shall be granted by the superintendent only upon an order of the supreme
  court in and for the county  in  which  the  principal  office  of  such
  corporation  is  located.    The application for an order of the supreme
  court pursuant to this section shall be made upon an order to show cause
  which shall provide that notice thereof, of a kind which the court deems
  to be adequate  and  proper,  be  given  to  depositors,  creditors  and
  stockholders of such corporation.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 611 - Special Deputies; Assistants; Counsel and Other Employees.

§ 611.  Special deputies; assistants; counsel and other employees. The
  superintendent may, by certificate, under his hand and the official seal
  of the department, appoint one or more special deputy superintendents as
  agent or agents to assist him in liquidating the business and affairs of
  any banking organization in his possession.   The  superintendent  shall
  file  such  certificate  in  his office and shall cause a certified copy
  thereof to be filed with the supreme court in the judicial  district  in
  which  the  principal office of such banking organization is located. He
  may delegate such special deputy superintendents to perform such  duties
  connected   with   such   liquidation  as  he  may  deem  proper.    The
  superintendent may employ such counsel and  expert  assistants,  without
  being  subject  to the requirements of section one hundred twelve of the
  state finance law or to the prior approval of any  other  state  agency,
  under  such titles as he shall assign to them and may retain such of the
  officers or employees of  such  banking  organization  as  he  may  deem
  necessary  in  the  liquidation and distribution of its assets. He shall
  require such security  as  he  may  deem  proper  from  his  agents  and
  assistants appointed pursuant to the provisions of this section.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 611-A - Appointment of Single Judge.

§ 611-a.  Appointment  of  single  judge.  When the superintendent has
  taken possession of and is liquidating the business and property in this
  state of any banking organization under the provisions of this  article,
  the  superintendent  shall  be  entitled  to the appointment of a single
  judge to supervise the liquidation upon request  to  the  administrative
  judge  of  the  supreme  court  in  the  judicial  district in which the
  principal office of such banking organization  is  located.  Such  judge
  shall  have  the  power  to  order expedited or simplified procedures or
  order a reference  wherever  necessary  to  resolve  a  matter  in  such
  liquidation.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 612 - Certificates to Be Recorded and Received in Evidence.

§ 612.  Certificates  to  be  recorded  and  received in evidence. The
  superintendent,  deputy  superintendents,   and   the   special   deputy
  superintendents  designated  under the provisions of section six hundred
  eleven  of  this  chapter,  are  hereby  authorized  to  subscribe   and
  acknowledge  written  statements  reciting  determinations  made or acts
  performed pursuant to the powers vested in and duties imposed  upon  the
  superintendent  pursuant  to  the  terms and provisions of this chapter.
  Every paper so executed and acknowledged  by  the  superintendent  or  a
  deputy superintendent or a special deputy superintendent may be recorded
  in  any  proper  recording  office  in the same manner and with the same
  effect as a deed regularly acknowledged and, whether or not so recorded,
  shall be received in evidence in any action or proceeding now pending or
  hereafter commenced, and shall be  presumptive  evidence  of  the  facts
  therein stated.
Any  statement,  similarly executed and acknowledged, setting forth an
  extract from a book, record or document of any banking  organization  in
  the  possession  of  the  superintendent  or  any  other book, record or
  document relating to the  liquidation  thereof,  shall  be  received  in
  evidence  in any action or proceeding now pending or hereafter commenced
  with the same effect as the original book, record or document.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 612-A - Payment of Wages.

§ 612-a.   Payment of wages. All wages actually owing to the employees
  of a banking organization in the possession of  the  superintendent  for
  services  rendered within three months prior to the date when possession
  was taken, not exceeding two thousand dollars to each employee, shall be
  paid prior to the payment of every other  debt  or  claim,  and  in  the
  discretion  of  the  superintendent  may  be paid as soon as practicable
  after taking possession, except that at  all  times  the  superintendent
  shall  reserve  such  funds as will in his opinion be sufficient for the
  expenses of administration.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 613 - Payment by Superintendent of Expenses of Liquidation.

§ 613.  Payment  by  superintendent  of expenses of liquidation.   The
  superintendent shall pay out of the funds in his hands  of  any  banking
  organization  of which he is in possession, all expenses of liquidation,
  subject to the approval of the supreme court in the judicial district in
  which the principal office of such banking organization was located. The
  application for an order of the supreme court pursuant to  this  section
  shall  be  made  upon  an  order  to show cause which shall provide that
  notice thereof to the depositors and creditors, and to the  stockholders
  or  shareholders, if any, of such banking organization be published once
  in each week for  two  consecutive  weeks  in  a  newspaper  of  general
  circulation  in the county in which the principal office of such banking
  organization was located.  Such order to show cause shall also be served
  upon such banking organization in such manner  as  the  court,  in  such
  order to show cause, may direct. The hearing upon such application shall
  be  held  not  less  than  ten  days after the first publication of such
  notice. An order approving  the  final  expenses  of  liquidation  of  a
  corporate  banking  organization  may,  in  a  proper  case,  and if the
  petition complies with the requirements of subdivision three of  section
  six  hundred twenty-seven of this article, include a provision declaring
  the  banking  organization  dissolved  and   its   corporate   existence
  terminated.  The supreme court shall not upon any application under this
  section  increase  the  compensation  of special deputy superintendents,
  assistants, counsel or other employees over  the  amount  fixed  by  the
  superintendent, or direct the superintendent to make any expenditure not
  approved by him.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 614 - Obtaining Possession of Pleadings, Et Cetera, in Actions Against Which Attorneys' Liens Are Asserted.

§ 614.  Obtaining  possession  of  pleadings,  et  cetera,  in actions
  against which attorneys' liens are asserted. When the superintendent  is
  in  possession  of  any  banking  organization, and attorneys' liens are
  asserted by attorneys of such banking organization against any causes of
  action to which  such  banking  organization  is  a  party,  or  against
  pleadings  or  other papers in the possession of such attorneys relating
  to such causes of action, or if such  liens  are  asserted  against  any
  evidences  of  title  to any assets or against any of the assets of such
  banking organization then in  the  possession  of  such  attorneys,  the
  superintendent  may institute special proceedings and petition the court
  to fix and determine the amount of such liens. Such proceedings shall be
  instituted in the county in which the principal office of  such  banking
  organization is located. Upon application of the superintendent and upon
  notice to such attorneys to be prescribed by the court, the court may by
  order  prior  to final order in such proceeding direct such attorneys to
  deliver to the superintendent all property of such banking organization,
  against which such liens are asserted, together with  such  consents  to
  substitution   of   attorneys   as   the  court  may  direct,  upon  the
  superintendent furnishing security to such attorneys in the  manner  and
  to an amount that may be fixed by the court.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 616 - Inventory of Assets; Where Filed.

§ 616.  Inventory  of  assets; where filed.   After the superintendent
  shall have taken possession of and shall have  determined  to  liquidate
  the  property and business of any banking organization, he shall make in
  duplicate an inventory of the assets of such  banking  organization.  He
  shall  file one copy of such inventory in his office and shall cause one
  copy to be filed with the supreme court  in  the  judicial  district  in
  which the principal office of such banking organization is located.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 620-A - Certain Claims Shall Not Be Accepted.

§ 620-a.  Certain  claims  shall  not  be accepted. The superintendent
  shall not accept  a  claim  based  on  an  agreement  with  the  banking
  organization  unless  the agreement is either reflected on the accounts,
  books or records of the banking  organization  or  a  creditor  provides
  documentary evidence of such agreement. The superintendent may issue any
  regulations determined to be necessary to implement this section.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 622 - List of Claims Duly Presented; Filing.

§ 622.  List  of  claims  duly presented; filing.   The superintendent
  shall cause to be made in duplicate a complete list of all  claims  duly
  presented  specifying  the name of the claimant, the nature of the claim
  and the amount thereof. Such list shall  also  contain  a  statement  of
  accounts  payable  as  shown by the books and records and as to which no
  claims have been presented, specifying the name of each person  to  whom
  such an account appears to be payable, the nature of the debt and amount
  thereof.  Within  sixty  days after the last date fixed in the notice to
  creditors to present and make proof of claims, the superintendent  shall
  file one copy of such list in his office, and cause one copy to be filed
  with  the  supreme court in the judicial district in which the principal
  office of such banking organization is located.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 623 - Filing Objections to Claims Presented or Listed; Procedure Upon Claim Under Objection.

§ 623. Filing objections to claims presented or listed; procedure upon
  claim  under objection. Within forty days after the superintendent shall
  have filed in his office a copy  of  the  list  of  claims  required  by
  section  six  hundred twenty-two, objections to any claim duly presented
  or to any account appearing on such  list  may  be  made  by  any  party
  interested,  by  filing  with  the  superintendent  such  objections  in
  writing,  signed  by  the  objector  and  duly  verified.   Unless   the
  superintendent  rejects  any  claim or accounts to which objections have
  been duly filed with him, he shall, within sixty days after the time  to
  file  such  objections  has  expired,  apply  to the supreme court, upon
  notice to the objector, for an order directing the superintendent as  to
  the  disposition  of  such  claim  or  account.  The court may thereupon
  dispose of such objections or may order a reference for that purpose.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 626 - Judgments Recovered Shall Not Be Liens.

§ 626. Judgments recovered shall not be liens. A lien shall not attach
  to  any  of the property or assets of any banking organization by reason
  of the entry of any judgment recovered against such banking organization
  after the superintendent  has  taken  possession  of  its  property  and
  business and so long as such possession continues.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 628 - Payment of Dividends When Deposits Have Been Made Available by Federal Deposit Insurance Corporation.

§ 628.  Payment of dividends when deposits have been made available by
  Federal Deposit Insurance Corporation.  When  the  superintendent  shall
  have  taken  possession  of  any banking organization for the purpose of
  liquidation, and Federal Deposit Insurance Corporation shall  have  made
  available  to  the  depositors  thereof  the amounts of their respective
  deposits insured by such corporation, he shall  be  authorized,  without
  requiring  assignments  from depositors, to pay to such corporation such
  dividends on account of such insured deposits as such  depositors  would
  be  entitled  to  receive  had their deposits not been made available to
  them by such corporation.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 630 - Claims of Shareholders and Members of Credit Unions and Savings and Loan Associations.

§ 630. Claims of shareholders and members of credit unions and savings
  and  loan  associations. For the purposes of sections six hundred six to
  six hundred thirty-one, both  inclusive,  of  this  chapter,  the  terms
  "depositors"  and "creditors" shall be deemed to include shareholders or
  members of a credit union or savings and loan association, and the terms
  "claims, " "accounts payable, " "deposits" and "deposit accounts"  shall
  be deemed to include the liability of a credit union or savings and loan
  association  to  such  shareholders  or members, provided, however, that
  nothing contained in this section shall in any way affect  any  priority
  over  such  shareholders  or  members to which any general creditor of a
  credit union or savings and loan association would be  entitled  in  the
  absence  of  this  section,  and provided further that the provisions of
  subdivision two of section six hundred twenty of this chapter shall  not
  apply to the claims of creditors entitled to such priority.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 631 - Actions Against Directors, Trustees, Managers or Officers for Violation of Their Official Duties.

§ 631.  Actions  against directors, trustees, managers or officers for
  violation of their official duties. At any time while the superintendent
  is in possession of the property and business of any corporation, he may
  within six years after the cause of action  has  accrued  institute  and
  maintain in his name as superintendent of financial services against its
  directors, trustees, managers or officers, or any of them, any action or
  proceeding which is vested in such corporation or in the stockholders or
  creditors thereof.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 633 - Service of Notice or Process During Time of War.

§ 633.  Service  of  notice  or  process during time of war. Whenever,
  pursuant to the provisions of this article, any communication, notice or
  other paper or process  is  required  to  be  given  or  served  by  the
  superintendent  upon  any person and the giving or service thereof is in
  any manner prohibited by the provisions of the act of congress, known as
  the "Trading with the Enemy Act,"  or  any  amendment  thereof,  or  the
  rules,  regulations  or  licenses  issued pursuant thereto, or any other
  law,  rule,  regulation  or  license  pursuant  to  law  prohibiting  or
  regulating  the  same,  such  communication,  notice  or  other paper or
  process shall be deemed to have been duly given or served on such person
  if given or served on his or her behalf, in the manner provided  in  the
  pertinent  provisions  of  this  article,  on  the  noncitizen  property
  custodian or on such  other  officer  as  may  have  been  appointed  or
  designated  by  the  president  of  the United States of America to take
  possession of the property of noncitizen  enemies.  This  section  shall
  apply  whether  or  not  (1) such noncitizen property custodian or other
  officer shall actually have taken possession of  any  property  of  such
  person,  or  (2)  the president, or an officer duly designated by him or
  her for the purpose, has the power to authorize or license the giving or
  service of any such communication, notice or other paper or process, and
  nothing  herein  shall  require  the  superintendent  to  apply  to  the
  president  or  such  officer  for  such  authority or license, provided,
  however, that in any case  where  it  appears  that  at  the  time  such
  communication,  notice or other paper or process is required to be given
  or served, the president or such  officer  has  actually  authorized  or
  licensed  the  giving  or  service of same in the manner provided in the
  pertinent provisions of this article, then this section shall not  apply
  and  the  superintendent  shall  be  required  to  give  or  serve  such
  communication, notice or other  paper  or  process  on  such  person  in
  accordance with such authorization or license.
2023 New York Laws › BNK - Banking › Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation › 634 - Power to Appoint Regulator or Insurer as Receiver; Additional Powers.

§ 634.  Power  to appoint regulator or insurer as receiver; additional
  powers. Notwithstanding anything to the contrary in  this  chapter,  the
  superintendent  may,  in his or her sole discretion, and upon such terms
  and conditions as the superintendent may approve, appoint as receiver or
  liquidator of any banking organization or branch or agency of a  foreign
  banking   corporation,   the   business   and   property  of  which  the
  superintendent has taken or is entitled to take possession,  the  Office
  of  the  Comptroller  of  the  Currency,  the  Federal Deposit Insurance
  Corporation, the National Credit Union Administration, the successor  or
  assignee of any of the foregoing, or such other regulator, or insurer of
  deposits  or  shares  as may be empowered by federal law to receive such
  appointment. Any regulator or insurer which accepts such appointment may
  act without bond or other security as to such appointment and shall have
  and possess, and may exercise, all the  rights,  powers  and  privileges
  provided  by  the laws of this state to the superintendent in his or her
  capacity as, or to any  other,  receiver  or  liquidator  of  a  banking
  organization  or branch or agency of a foreign banking corporation. Upon
  the payment to any depositor or shareholder of a banking organization or
  branch or agency of a foreign  banking  corporation,  the  regulator  or
  insurer  shall  be  subrogated  to  all  the rights of such depositor or
  shareholder to the extent of such payment.
In addition to such other powers as he or she may possess  under  law,
  the   superintendent,   or   any  regulator  or  insurer  which  accepts
  appointment in accordance with the  provisions  of  this  section,  may,
  without  obtaining  the  approval  of  stockholders, shareholders or any
  court, sell, transfer, assign, consolidate or otherwise dispose  of  all
  or  any  part  of  the  assets,  real  and personal, including fiduciary
  relationships, of the banking organization, or branch or agency  of  the
  foreign  banking  corporation, to another banking organization, national
  bank, branch or agency of a foreign banking corporation, federal savings
  bank, federal savings and loan association or federal credit union or to
  such regulator or insurer, its successor or assignee, on such  terms  as
  may   be   determined  to  be  in  the  best  interests  of  depositors,
  shareholders  and  other  creditors.   In   connection   therewith   the
  superintendent  may,  in addition, and without obtaining court approval,
  borrow from such regulator or insurer any amount necessary to facilitate
  the assumption of deposit liabilities by any other  banking  institution
  and  assign  any  part or all of the assets of a banking organization or
  branch or agency of a foreign banking corporation as security  for  such
  loan.
2023 New York Laws › BNK - Banking › Article 13-A - Licensees: Superintendent's Taking Possession: Conservation: Liquidation › 635 - Definitions.

§ 635.  Definitions.  1.  "Person"  when used in this article means an
  individual, partnership, corporation, unincorporated association,  joint
  stock association, trust or other group, however organized.
2.  "License"  when used in this article means any license duly issued
  by the superintendent  pursuant  to  the  provisions  of  article  nine,
  nine-A,  eleven-B,  twelve-B,  twelve-C,  twelve-D or thirteen-B of this
  chapter or any registration certificate  issued  by  the  superintendent
  pursuant to the provisions of article twelve-D of this chapter.
3.  "Licensee"  when  used  in  this article means any person issued a
  license.
2023 New York Laws › BNK - Banking › Article 13-A - Licensees: Superintendent's Taking Possession: Conservation: Liquidation › 636 - When Superintendent May Take Possession of License; When Possession May Be Surrendered.

§ 636.  When  superintendent  may  take  possession  of  license; when
possession may  be  surrendered.  1.  The  superintendent  may,  in  his
discretion,  forthwith  take  possession of the business and property of
any licensee which is used in the business  for  which  the  license  is
granted  whenever  it  shall  appear  to  the superintendent that in the
conduct of the business for which it has received a license, a clear and
present danger exists to the public because such licensee:
(a) Is conducting its business in a manner which  is  unauthorized  or
unsafe  or  which  might  render its further operations hazardous to the
public;
(b) Is in an unsafe or unsound condition to transact business;
(c) Cannot with safety and expediency continue business;
(d) Has an impairment of its capital, has assets insufficient  to  pay
its  debts  and obligations, or is otherwise unable to pay its debts and
obligations as they mature;
(e) Has suspended payment of some or all of its debts and obligations;
(f) Has neglected or refused to comply with the terms of a duly issued
order of the superintendent;
(g) Has refused, upon proper demand, to submit its records and affairs
for inspection to an examiner of the department; or
(h) Has refused, or any of its officers, directors  or  partners  have
refused, to be examined under oath regarding its affairs.
2.  When  the  superintendent  shall have duly taken possession of the
business and property of any such licensee, he may hold such  possession
until  its  affairs  are  finally  liquidated  by  him, unless, he shall
surrender possession as provided in subdivision three of this section, a
receiver is appointed by the  supreme  court  pursuant  to  section  six
hundred  thirty-seven  of  this  article to liquidate the affairs of the
licensee, or he is enjoined from continuing possession  as  provided  in
section six hundred thirty-eight of this article.
3. The superintendent may, in his discretion, and upon such conditions
as may be approved by him, surrender possession and permit such licensee
to resume business.