N.Y. Banking Law § 412: Conversion of federal savings institutions to state charter

§ 412. Conversion of federal savings institutions to state charter.

The superintendent is authorized to promulgate such regulations as are

necessary to permit the conversion of any federal savings association or

federal savings and loan association to state charter where such

conversion is not otherwise governed by the provisions of this chapter.

Subject to the foregoing, such regulations may provide for the

conversion of a federal savings association or federal savings and loan

association, whether in mutual or stock form, into a state-chartered

savings bank or state-chartered savings and loan association. The

federal savings association shall submit a written plan of conversion to

the superintendent, together with an investigation fee as prescribed

pursuant to section eighteen-a of this chapter.