N.Y. Banking Law § 25-a: Authority of superintendent to file organization certificate and issue authorization certificate under certain conditions

* § 25-a. Authority of superintendent to file organization certificate

and issue authorization certificate under certain conditions. 1.

Notwithstanding any other provision of law to the contrary, the

superintendent is authorized to file and approve the organization

certificate of a bank or trust company and to issue an authorization

certificate to such bank or trust company in accordance with the

provisions of subdivision two of this section.

2. If the superintendent, after taking possession of the business and

property of any banking organization pursuant to section six hundred six

of this chapter, shall find that it is in the public interest for all or

a substantial part of the business or property of such banking

organization to be acquired by a bank or trust company to be organized

for such purpose, he may forthwith file and approve the organization

certificate of, and issue an authorization certificate to, such bank or

trust company and in connection therewith may waive any condition,

requirement or provision of articles two, three and fifteen of this

chapter, provided, however, that the superintendent shall be empowered

to impose such terms and conditions, if any, on the exercise of any

authority granted to any such bank or trust company as he may deem

appropriate to effectuate the declaration of policy contained in section

ten of this article.

* NB Expired March 31, 1982