N.Y. Banking Law § 200: When foreign banking corporation may transact business in this state

§ 200. When foreign banking corporation may transact business in this

state. No foreign banking corporation, other than a bank organized under

the laws of the United States, shall transact in this state the business

of buying, selling, paying or collecting bills of exchange, or of

issuing letters of credit or of receiving money for transmission or

transmitting the same by draft, check, cable or otherwise, or of making

loans, or of receiving deposits, or of exercising the fiduciary powers

specified in section two hundred one-b of this chapter, or transacting

any part of such business, or maintaining in this state its initial

agency or branch for carrying on such business, or any part thereof,

unless such corporation shall have:

1. Been authorized by its charter to carry on such business and shall

have complied with the laws of the state or country under which it is

incorporated;

2. Furnished to the superintendent such proof as to the nature and

character of its business and as to its financial condition as he may

require;

3. Filed in the office of the superintendent (a) a duly executed

instrument in writing, by its terms of indefinite duration and

irrevocable, appointing the superintendent and his or her successors its

true and lawful attorney, upon whom all process in any action or

proceeding against it on a cause of action arising out of a transaction

with its New York agency or agencies or branch or branches, may be

served with the same force and effect as if it were a domestic

corporation and had been lawfully served with process within the state

and (b) a written certificate of designation, which may be changed from

time to time thereafter by the filing of a new certificate of

designation, specifying the name and address of the officer, agent or

other person to whom such process shall be forwarded by the

superintendent;

4. Received a license duly issued to it by the superintendent as

provided in article two of this chapter and, in the case of a foreign

banking corporation desiring to exercise the fiduciary powers specified

in section two hundred one-b of this chapter, or any part thereof,

received a certificate of authorization duly issued to it by the

superintendent as provided in such section two hundred one-b.

This section shall not be construed to prohibit foreign banking

corporations which do not maintain an office in this state for the

transaction of business from (1) making loans in this state secured by

mortgages on real property, nor from contracting in this state with a

banking institution engaged in the business of banking under the laws of

this state to acquire from or through such banking institution a part

interest or the entire interest in a loan or evidence of debt which such

banking institution has heretofore or hereafter made, purchased or

acquired, for its own account or otherwise, together with a like

interest in any security and any security instrument proposed to be

given or heretofore or hereafter given to secure or evidence such loan

or evidence of debt; (2) enforcing in this state obligations heretofore

or hereafter acquired by it in the transaction of business outside of

this state, or in the transaction of any business authorized by this

section; (3) acquiring, holding, leasing, mortgaging, contracting with

respect to, or otherwise protecting or conveying property in this state

heretofore or hereafter assigned, transferred, mortgaged or conveyed to

it as security for, or in whole or part satisfaction of a loan or loans

made by it or obligations acquired by it in the transaction of business

outside of this state, or in the transaction of any business authorized

by this section.

If any foreign banking corporation has opened and occupied an agency

or branch in this state pursuant to the provisions of this chapter, it

may, unless otherwise advised by the superintendent, open and occupy an

additional agency or branch, as the case may be, without having to apply

for the approval of the superintendent, provided that it gives the

superintendent notice of at least thirty days (or such shorter period as

the superintendent in individual cases may approve) before opening and

occupying any such additional office.