New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Commercial Banks › Supervisory Procedure 105 - Application for Approval of the Formation of a Bank Holding Company; the Expansion of an Existing Bank Holding Company; the Voting by a Bank Holding Company of the Stock of a Banking Subsidiary; A Merger; a Consolidation; or a Purchase of Assets › Section 105.1 - General information

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A
				  separate application shall be submitted with respect to each action or
				  transaction for which approval is sought and six copies thereof together with
				  all exhibits shall be submitted to the superintendent at the address set forth
				  in section
				  1.1  of
				  Supervisoy Policy G 1 of this Title (Attention: Applications Unit). Each
				  application shall be accompanied by payment of the fee specified in section
				  1.2  of
				  Supervisory Policy G 1 of this Title if filed pursuant to Banking Law, sections
				  136,
				  136-a,
				  142,
				  143-a,
				  601 or 601-a. I nquiries concerning the
				  preparation of an application should be addressed to the Applications Unit of
				  the Banking Department, at the address set forth in section
				  1.1  of
				  Supervisory Policy G 1 of this Title.
(b) The statutory period for approval or
				  disapproval of an application submitted pursuant to this Procedure shall
				  commence on the date that the Banking Department shall acknowledge to the
				  applicant that the contents of the application and the required documents and
				  exhibits are acceptable in the form submitted.
(c) The corporate approvals required by the
				  Banking Law and by applicable Federal law with respect to each action or
				  transaction shall be obtained before the application for approval by the
				  Superintendent or the Banking Board, as the case may be, is submitted, except
				  that an application by a bank holding company to vote the stock of a banking
				  subsidiary in connection with a merger or an acquisition of assets must receive
				  approval by the Banking Board prior to submission of the merger or acquisition
				  of assets proposal to stockholders.
(d) The superintendent reserves the right to
				  require additional information in connection with the application. The
				  applicants may, of course, submit any information in addition to that required
				  which they deem pertinent to the application.
(e) Unless otherwise indicated, all
				  statistical data required to be submitted in the application (e.g., as to
				  deposits and loans) shall be furnished as of December 31st preceding the date
				  of submission.
(f) The application
				  may be filed in the form that such application is filed with the appropriate
				  Federal supervisory authority, provided permission to so file has been
				  requested in writing from the Commercial Banks Division and such permission has
				  been granted; and provided further that any information, documents or exhibits
				  not required by the Federal form but required by this Procedure are included in
				  the application or in a supplement or supplements to the application.