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Code · New York · Banking · Subsidiary Trust Companies

§ 153. Offices.

154 words·~1 min read·/ny/banking/subsidiary-trust-companies/153·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

§ 153. Offices. Notwithstanding the provisions of sections twenty-nine
and one hundred five of this chapter,
(a)a subsidiary trust company may
open and occupy a trust office, including its principal office, at any
one or more locations in the state of New York at which the owning bank
holding company, any affiliated bank, or any affiliated trust company
has a banking office, and
(b)an affiliated trust company may open and
occupy a trust office at the location in the state at which such
subsidiary trust company has its principal office. A subsidiary trust
company or an affiliated trust company, as the case may be, which
proposes to open and occupy a trust office pursuant to this section
shall make written application to the superintendent for leave to do so
in the manner provided in section twenty-nine of this chapter with
respect to branch offices and shall pay the investigation fee specified
therein.
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