§ 227. Powers permitted to out-of-state branches of New York banks.
142 words·~1 min read·
/ny/banking/interstate-branching/227A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 227. Powers permitted to out-of-state branches of New York banks. A
New York bank that opens, occupies and maintains one or more branch
offices in any state may exercise such powers at such branch or branches
as would be permitted at such place or places to an out-of-state state
bank maintaining a branch or branches at such place or places with the
type of charter that most nearly corresponds to the charter of such New
York bank; provided, however, that prior to exercising in any state any
power not permitted to be exercised by such New York bank in this state,
it shall apply to the superintendent to exercise such power and approval
therefor shall be given unless the superintendent determines that the
exercise of such power is contrary to the declaration of policy
contained in section ten of this chapter.