N.Y. Banking Law § 11: Department of financial services; official documents; destruction of documents; official communications

§ 11. Department of financial services; official documents;

destruction of documents; official communications. 1. The department

shall be charged with the execution of the laws relating to the

individuals, partnerships, corporations and other entities to which this

chapter is applicable and shall exercise such powers and perform such

duties as are conferred and imposed upon it by this chapter, or by any

law of this state.

2. (a) Except as specified in paragraph (b) or (c) of this

subdivision, any report expressly required to be rendered to the

superintendent under any provision of this chapter, any report of an

examination made in accordance with any provision of this chapter, and

any oath or declaration of office received by the department shall be

retained in such form and for such period as the superintendent finds

necessary and proper. After such period the superintendent shall

recommend disposal of such material in accordance with the provisions of

the arts and cultural affairs law.

(b) Reports made in accordance with section twenty-eight-b of this

article or pursuant to the rules and regulations of the superintendent

promulgated in connection with assessing a banking organization's record

of performance in meeting the credit needs of local communities within

the meaning of section twenty-eight-b of this article, including reports

expressly required to be rendered to the superintendent and reports of

examinations may be destroyed at the direction of the superintendent and

in accordance with the provisions of the arts and cultural affairs law

after three years from date of receipt thereof, provided any such report

has first been photographed, microphotographed or otherwise reproduced.

Each such reproduction shall be retained in the files of the department

for a period of at least fifteen years from the date of the last

received report, oath or declaration appearing thereon. After the

expiration of such period, such reproduction may be destroyed at the

direction of the superintendent and in accordance with the provisions of

the arts and cultural affairs law. Such reproduction thereof shall be

deemed, for any purpose, the equivalent of the original of such report.

Any such report not so reproduced shall be retained in the files of the

department for a period of at least fifteen years from the date of

receipt thereof, after which it may be destroyed at the direction of the

superintendent and in accordance with the provisions of the arts and

cultural affairs law.

(c) This subdivision shall not apply to any records, documents or

correspondence referred to in subdivision four of section six hundred

twenty-seven of this chapter.

4. Any communication from the department to any person, partnership,

corporation or other entity may contain a direction that such

communication shall be presented to the controlling owners or principal

management of such entity, members of such partnership or to the board

of directors or trustees of such corporation. A communication containing

such direction shall be for the purposes of this chapter an official

communication. The superintendent may, in his or her discretion, notify

in writing each owner or principal manager of such entity, every member

of such partnership and every director or trustee of such corporation of

the sending of such a communication and, in that event the notification

shall state the date of such communication.