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New York · Through 2026-09-11

N.Y. Banking Law § 206: Termination of existence

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Where this section sits in the code
  1. Banking Law
  2. Article 5. Foreign Banking Corporations and National Banks

§ 206. Termination of existence. When a foreign banking corporation

licensed pursuant to article two of this chapter is dissolved or its

authority or existence is otherwise terminated or cancelled in the

jurisdiction of its incorporation, a certificate of the superintendent

of financial services, or official performing the equivalent function as

to records of banking corporations, of the jurisdiction of incorporation

of such foreign banking corporation attesting to the occurrence of any

such event or a certified copy of an order or decree of a court of such

jurisdiction directing the dissolution of such foreign banking

corporation, the termination of its existence or the cancellation of its

authority shall be delivered to the superintendent. The filing of the

certificate, order or decree shall have the same effect as the

revocation of its license under section forty of this chapter. The

superintendent shall continue as agent of the foreign banking

corporation upon whom process against it may be served in any action or

special proceeding based upon any liability or obligation incurred by

the foreign banking corporation within this state prior to the filing of

such certificate, order or decree and he shall promptly cause a copy of

such process to be mailed by registered mail, return receipt requested,

to such foreign corporation at the post office address on file in his

office specified for such purpose. The post office address may be

changed in the manner provided in section two hundred of this article.

Collected 2026-09-14T19:32:44Z. Source file · JSON

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