New York Laws
Article 2 - Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers
39 - Orders of Superintendent.

§ 39. Orders of superintendent. 1. To appear and explain an apparent
violation. Whenever it shall appear to the superintendent that any
banking organization, bank holding company, registered mortgage broker,
licensed mortgage banker, licensed student loan servicer, registered
mortgage loan servicer, licensed mortgage loan originator, licensed
lender, licensed casher of checks, licensed sales finance company,
licensed insurance premium finance agency, licensed transmitter of
money, licensed budget planner, out-of-state state bank that maintains a
branch or branches or representative or other offices in this state, or
foreign banking corporation licensed by the superintendent to do
business or maintain a representative office in this state has violated
any law or regulation, he or she may, in his or her discretion, issue an
order describing such apparent violation and requiring such banking
organization, bank holding company, registered mortgage broker, licensed
mortgage banker, licensed student loan servicer, licensed mortgage loan
originator, licensed lender, licensed casher of checks, licensed sales
finance company, licensed insurance premium finance agency, licensed
transmitter of money, licensed budget planner, out-of-state state bank
that maintains a branch or branches or representative or other offices
in this state, or foreign banking corporation to appear before him or
her, at a time and place fixed in said order, to present an explanation
of such apparent violation.

2. To discontinue unauthorized or unsafe and unsound practices.
Whenever it shall appear to the superintendent that any banking
organization, bank holding company, registered mortgage broker, licensed
mortgage banker, licensed student loan servicer, registered mortgage
loan servicer, licensed mortgage loan originator, licensed lender,
licensed casher of checks, licensed sales finance company, licensed
insurance premium finance agency, licensed transmitter of money,
licensed budget planner, out-of-state state bank that maintains a branch
or branches or representative or other offices in this state, or foreign
banking corporation licensed by the superintendent to do business in
this state is conducting business in an unauthorized or unsafe and
unsound manner, he or she may, in his or her discretion, issue an order
directing the discontinuance of such unauthorized or unsafe and unsound
practices, and fixing a time and place at which such banking
organization, bank holding company, registered mortgage broker, licensed
mortgage banker, licensed student loan servicer, registered mortgage
loan servicer, licensed mortgage loan originator, licensed lender,
licensed casher of checks, licensed sales finance company, licensed
insurance premium finance agency, licensed transmitter of money,
licensed budget planner, out-of-state state bank that maintains a branch
or branches or representative or other offices in this state, or foreign
banking corporation may voluntarily appear before him or her to present
any explanation in defense of the practices directed in said order to be
discontinued.

3. To make good impairment of capital or to ensure compliance with
financial requirements. Whenever it shall appear to the superintendent
that the capital or capital stock of any banking organization, bank
holding company or any subsidiary thereof which is organized, licensed
or registered pursuant to this chapter, is impaired, or the financial
requirements imposed by subdivision one of section two hundred two-b of
this chapter or any regulation of the superintendent on any branch or
agency of a foreign banking corporation or the financial requirements
imposed by this chapter or any regulation of the superintendent on any
licensed lender, registered mortgage broker, licensed mortgage banker,
licensed student loan servicer, licensed casher of checks, licensed
sales finance company, licensed insurance premium finance agency,

licensed transmitter of money, licensed budget planner or private banker
are not satisfied, the superintendent may, in the superintendent's
discretion, issue an order directing that such banking organization,
bank holding company, branch or agency of a foreign banking corporation,
registered mortgage broker, licensed mortgage banker, licensed student
loan servicer, licensed lender, licensed casher of checks, licensed
sales finance company, licensed insurance premium finance agency,
licensed transmitter of money, licensed budget planner, or private
banker make good such deficiency forthwith or within a time specified in
such order.

4. To make good encroachments on reserves. Whenever it shall appear to
the superintendent that either the total reserves or reserves on hand of
any banking organization, branch or agency of a foreign banking
corporation are below the amount required by or pursuant to this chapter
or any other applicable provision of law or regulation to be maintained,
or that such banking organization, branch or agency of a foreign banking
corporation is not keeping its reserves on hand as required by this
chapter or any other applicable provision of law or regulation, he or
she may, in his or her discretion, issue an order directing that such
banking organization, branch or agency of a foreign banking corporation
make good such reserves forthwith or within a time specified in such
order, or that it keep its reserves on hand as required by this chapter.

5. To keep books and accounts as prescribed. Whenever it shall appear
to the superintendent that any banking organization, bank holding
company, registered mortgage broker, licensed mortgage banker, licensed
student loan servicer, registered mortgage loan servicer, licensed
mortgage loan originator, licensed lender, licensed casher of checks,
licensed sales finance company, licensed insurance premium finance
agency, licensed transmitter of money, licensed budget planner, agency
or branch of a foreign banking corporation licensed by the
superintendent to do business in this state, does not keep its books and
accounts in such manner as to enable him or her to readily ascertain its
true condition, he or she may, in his or her discretion, issue an order
requiring such banking organization, bank holding company, registered
mortgage broker, licensed mortgage banker, licensed student loan
servicer, registered mortgage loan servicer, licensed mortgage loan
originator, licensed lender, licensed casher of checks, licensed sales
finance company, licensed insurance premium finance agency, licensed
transmitter of money, licensed budget planner, or foreign banking
corporation, or the officers or agents thereof, or any of them, to open
and keep such books or accounts as he or she may, in his or her
discretion, determine and prescribe for the purpose of keeping accurate
and convenient records of its transactions and accounts.

6. As used in this section, "bank holding company" shall have the same
meaning as that term is defined in section one hundred forty-one of this
chapter.

Structure New York Laws