N.Y. Banking Law § 202-d: Foreign banking corporation may not maintain both agencies and branches in this state

§ 202-d. Foreign banking corporation may not maintain both agencies

and branches in this state. No foreign banking corporation licensed to

maintain one or more agencies in this state shall be licensed to

maintain a branch in this state except upon termination of the operation

of such agency or agencies; and no foreign banking corporation licensed

to maintain one or more branches in this state shall be licensed to

maintain an agency in this state except upon termination of the

operation of such branch or branches.