N.Y. Banking Law § 201-b: Fiduciary powers of foreign banking corporations

§ 201-b. Fiduciary powers of foreign banking corporations. Every

foreign banking corporation licensed pursuant to article two of this

chapter to maintain one or more branches or agencies in this state, and

holding an authorization certificate issued pursuant to this section

may, subject to such further limitations and restrictions as the

superintendent may prescribe, exercise the powers described in sections

one hundred, one hundred-a, one hundred-b and one hundred-c of this

chapter to the same extent, and subject to the same requirements and

restrictions and effect as apply in the case of trust companies in the

exercise of such powers.

The superintendent shall, within sixty days of the receipt by him of a

request for such authorization, issue to a foreign banking corporation

licensed pursuant to article two of this chapter to maintain one or more

branches or agencies in this state, a certificate of authorization to

exercise the fiduciary powers referred to in this section at all or at

any one or more of its authorized branches or agencies, if he shall be

satisfied that such powers will be exercised in accordance with the

requirements of this chapter. The superintendent may, after giving

notice of the contemplated action and reasonable opportunity to be

heard, revoke any such certificate of authorization if he shall find

that a foreign banking corporation so authorized has failed to conform

to any requirement of this chapter relating to the conduct of such

business. Such revocation may apply to one or more of the authorized

branches or agencies of a foreign banking corporation.