New York Laws
Article 2 - Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers
25-A - Authority of Superintendent to File Organization Certificate and Issue Authorization Certificate Under Certain Conditions.

* § 25-a. Authority of superintendent to file organization certificate
and issue authorization certificate under certain conditions. 1.
Notwithstanding any other provision of law to the contrary, the
superintendent is authorized to file and approve the organization
certificate of a bank or trust company and to issue an authorization
certificate to such bank or trust company in accordance with the
provisions of subdivision two of this section.

2. If the superintendent, after taking possession of the business and
property of any banking organization pursuant to section six hundred six
of this chapter, shall find that it is in the public interest for all or
a substantial part of the business or property of such banking
organization to be acquired by a bank or trust company to be organized
for such purpose, he may forthwith file and approve the organization
certificate of, and issue an authorization certificate to, such bank or
trust company and in connection therewith may waive any condition,
requirement or provision of articles two, three and fifteen of this
chapter, provided, however, that the superintendent shall be empowered
to impose such terms and conditions, if any, on the exercise of any
authority granted to any such bank or trust company as he may deem
appropriate to effectuate the declaration of policy contained in section
ten of this article.

* NB Expired March 31, 1982

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