N.Y. Banking Law § 214: Committees

§ 214. Committees. 1. There shall be a loan committee of such

corporation for each of the twelve economic regions as defined in

section two hundred eleven of this chapter or such other regions as the

board of directors shall designate for this purpose. Each such

committee shall include such persons as the board of directors shall

designate.

2. The board of directors of such corporation may establish an office

for any such loan committee, within such committee's economic region.

3. Every application to such corporation for a loan or financial

assistance shall be made through the loan committee for the economic

region wherein the applicant resides or maintains a regular place of

business, or directly to one of the regional offices of the corporation.

Any such applications made to a regional office shall be promptly

referred to the loan committee for the economic region wherein the

applicant resides or maintains a regular place of business. All such

applications shall thereupon be reviewed by such regional loan committee

and promptly transmitted by it to the central loan committee established

by the board of directors for consideration, along with the

recommendations of such regional loan committee with respect thereto.

4. The board of directors shall have the responsibility to appoint all

necessary board and officer committees to provide for prudent management

and oversight of such corportion.