State Codes and Statutes
Statutes > New-york > Bnk > Article-12 > 511§ 511. Change of location; change of designation of principal office. Any investment company may make a written application to the superintendent, such application to be accompanied by an investigation fee as prescribed pursuant to section eighteen-a of this chapter, for leave to change its place or one of its places of business to another place or for leave to change the designation of its principal office to a branch office and to change the designation of one of its branch offices to its principal office. The application shall state the reasons for such proposed change, and shall be accompanied by a copy of a resolution authorizing the making of the application, certified by a principal officer of the investment company to have been adopted by vote of a majority of its entire board of directors. If the proposed place of business is within the limits of the village, borough or city, if in a city not divided into boroughs, in which the place of business sought to be changed is located, such change may be made upon the written approval of the superintendent; if beyond such limits, notice of intention to make such application, signed by a principal officer of the corporation, shall be published once a week for two successive weeks in a newspaper to be designated by the superintendent for the purpose, in accordance with the provisions of article two of this chapter. If the superintendent shall grant his or her certificate authorizing the change of location, as provided in article two of this chapter, the investment company may, upon or after the day specified in the certificate, remove its property and effects to the location designated therein. Anything contained in this chapter to the contrary notwithstanding, an investment company to which the provisions of subdivision two of section thirty-six of this chapter are inapplicable may change the location of its place or one of its places of business to another place or may change the designation of its principal office to a branch office and change the designation of one of its branch offices to its principal office, without applying or obtaining authorization therefor under the provisions of this section or article two of this chapter, but no such change shall be made by an investment company until it shall have notified the superintendent in writing of the new location or of the change of designation of its principal office. If the newly designated principal office be in a different county than the county in which the principal office is located immediately prior to the change, the superintendent shall file in the office of the clerk of each such county a certificate stating that such change has been made by the investment company.
