State Codes and Statutes

Statutes > New-york > Bnk > Article-5-b > 221-i

§ 221-i.  Notice  of  acquisition  of control or merger. 1.  A foreign  banking corporation licensed pursuant to  this  article  to  maintain  a  representative office in this state shall file with the superintendent a  notice,   in   such   form   and  containing  such  information  as  the  superintendent may prescribe, no later than fourteen calendar days after  such foreign banking corporation becomes aware  of  any  acquisition  of  control  of  such  corporation  or  merges  with another foreign banking  corporation.    2. Control, for purposes of this section, means any person or  entity,  or  group  of  persons  or  entities  acting  in  concert,  directly  or  indirectly,  owning,  controlling,  or  holding  with  power  to   vote,  twenty-five percent or more of any class of voting stock of such foreign  banking  corporation,  or  having  the  ability in any manner to elect a  majority of the  directors  of  such  foreign  banking  corporation,  or  otherwise  exercising  a  controlling  influence over the management and  policies  of  such  foreign  banking  corporation  as  defined  by   the  superintendent by regulation.

State Codes and Statutes

Statutes > New-york > Bnk > Article-5-b > 221-i

§ 221-i.  Notice  of  acquisition  of control or merger. 1.  A foreign  banking corporation licensed pursuant to  this  article  to  maintain  a  representative office in this state shall file with the superintendent a  notice,   in   such   form   and  containing  such  information  as  the  superintendent may prescribe, no later than fourteen calendar days after  such foreign banking corporation becomes aware  of  any  acquisition  of  control  of  such  corporation  or  merges  with another foreign banking  corporation.    2. Control, for purposes of this section, means any person or  entity,  or  group  of  persons  or  entities  acting  in  concert,  directly  or  indirectly,  owning,  controlling,  or  holding  with  power  to   vote,  twenty-five percent or more of any class of voting stock of such foreign  banking  corporation,  or  having  the  ability in any manner to elect a  majority of the  directors  of  such  foreign  banking  corporation,  or  otherwise  exercising  a  controlling  influence over the management and  policies  of  such  foreign  banking  corporation  as  defined  by   the  superintendent by regulation.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Bnk > Article-5-b > 221-i

§ 221-i.  Notice  of  acquisition  of control or merger. 1.  A foreign  banking corporation licensed pursuant to  this  article  to  maintain  a  representative office in this state shall file with the superintendent a  notice,   in   such   form   and  containing  such  information  as  the  superintendent may prescribe, no later than fourteen calendar days after  such foreign banking corporation becomes aware  of  any  acquisition  of  control  of  such  corporation  or  merges  with another foreign banking  corporation.    2. Control, for purposes of this section, means any person or  entity,  or  group  of  persons  or  entities  acting  in  concert,  directly  or  indirectly,  owning,  controlling,  or  holding  with  power  to   vote,  twenty-five percent or more of any class of voting stock of such foreign  banking  corporation,  or  having  the  ability in any manner to elect a  majority of the  directors  of  such  foreign  banking  corporation,  or  otherwise  exercising  a  controlling  influence over the management and  policies  of  such  foreign  banking  corporation  as  defined  by   the  superintendent by regulation.