State Codes and Statutes

Statutes > New-york > Bnk > Article-10 > 413

§ 413.  Reciprocal interstate acquisitions. 1. With the prior approval  of the superintendent, a New York savings and loan holding company or  a  subsidiary thereof or a New York savings association may acquire control  of  an  out-of-state savings and loan holding company or an out-of-state  savings association,  and  an  out-of-state  savings  and  loan  holding  company  or  a subsidiary thereof or an out-of-state savings association  may acquire control of a New York savings and loan holding company or  a  New York savings association subject to regulations to be adopted by the  banking  board.  The terms and conditions prescribed by such regulations  shall be substantially similar to those contained in section one hundred  forty-two-b of this chapter governing reciprocal interstate acquisitions  by bank holding companies.    2. For the purposes of this section:    (a) the term "savings association" shall have the same meaning  as  in  section  10  of  an  Act  of  Congress  entitled Home Owners Loan Act as  amended from time to time;    (b) the term "savings and loan holding company" shall  have  the  same  meaning as in section 10 of an Act of Congress entitled Home Owners Loan  Act as amended from time to time;    (c)  the  term  "New  York  savings  association" shall mean a savings  association whose principal office is located in this state and the term  "out-of-state savings association"  shall  mean  a  savings  association  whose  principal  office  is located in a state other than this state or  the District of Columbia; and    (d) the term "New York savings and loan holding company" shall mean  a  savings  and  loan  holding  company which controls one or more New York  savings associations and the term "out-of-state savings and loan holding  company" shall mean a savings and loan holding company other than a  New  York  savings  and  loan  holding  company  which conducts its principal  banking business in a state other than this state  or  the  District  of  Columbia.  The  jurisdiction  in  which an out-of-state savings and loan  holding company conducts its principal banking business is that state or  the District of Columbia in which the total deposits of such company and  its banking subsidiaries are largest.

State Codes and Statutes

Statutes > New-york > Bnk > Article-10 > 413

§ 413.  Reciprocal interstate acquisitions. 1. With the prior approval  of the superintendent, a New York savings and loan holding company or  a  subsidiary thereof or a New York savings association may acquire control  of  an  out-of-state savings and loan holding company or an out-of-state  savings association,  and  an  out-of-state  savings  and  loan  holding  company  or  a subsidiary thereof or an out-of-state savings association  may acquire control of a New York savings and loan holding company or  a  New York savings association subject to regulations to be adopted by the  banking  board.  The terms and conditions prescribed by such regulations  shall be substantially similar to those contained in section one hundred  forty-two-b of this chapter governing reciprocal interstate acquisitions  by bank holding companies.    2. For the purposes of this section:    (a) the term "savings association" shall have the same meaning  as  in  section  10  of  an  Act  of  Congress  entitled Home Owners Loan Act as  amended from time to time;    (b) the term "savings and loan holding company" shall  have  the  same  meaning as in section 10 of an Act of Congress entitled Home Owners Loan  Act as amended from time to time;    (c)  the  term  "New  York  savings  association" shall mean a savings  association whose principal office is located in this state and the term  "out-of-state savings association"  shall  mean  a  savings  association  whose  principal  office  is located in a state other than this state or  the District of Columbia; and    (d) the term "New York savings and loan holding company" shall mean  a  savings  and  loan  holding  company which controls one or more New York  savings associations and the term "out-of-state savings and loan holding  company" shall mean a savings and loan holding company other than a  New  York  savings  and  loan  holding  company  which conducts its principal  banking business in a state other than this state  or  the  District  of  Columbia.  The  jurisdiction  in  which an out-of-state savings and loan  holding company conducts its principal banking business is that state or  the District of Columbia in which the total deposits of such company and  its banking subsidiaries are largest.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Bnk > Article-10 > 413

§ 413.  Reciprocal interstate acquisitions. 1. With the prior approval  of the superintendent, a New York savings and loan holding company or  a  subsidiary thereof or a New York savings association may acquire control  of  an  out-of-state savings and loan holding company or an out-of-state  savings association,  and  an  out-of-state  savings  and  loan  holding  company  or  a subsidiary thereof or an out-of-state savings association  may acquire control of a New York savings and loan holding company or  a  New York savings association subject to regulations to be adopted by the  banking  board.  The terms and conditions prescribed by such regulations  shall be substantially similar to those contained in section one hundred  forty-two-b of this chapter governing reciprocal interstate acquisitions  by bank holding companies.    2. For the purposes of this section:    (a) the term "savings association" shall have the same meaning  as  in  section  10  of  an  Act  of  Congress  entitled Home Owners Loan Act as  amended from time to time;    (b) the term "savings and loan holding company" shall  have  the  same  meaning as in section 10 of an Act of Congress entitled Home Owners Loan  Act as amended from time to time;    (c)  the  term  "New  York  savings  association" shall mean a savings  association whose principal office is located in this state and the term  "out-of-state savings association"  shall  mean  a  savings  association  whose  principal  office  is located in a state other than this state or  the District of Columbia; and    (d) the term "New York savings and loan holding company" shall mean  a  savings  and  loan  holding  company which controls one or more New York  savings associations and the term "out-of-state savings and loan holding  company" shall mean a savings and loan holding company other than a  New  York  savings  and  loan  holding  company  which conducts its principal  banking business in a state other than this state  or  the  District  of  Columbia.  The  jurisdiction  in  which an out-of-state savings and loan  holding company conducts its principal banking business is that state or  the District of Columbia in which the total deposits of such company and  its banking subsidiaries are largest.