N.Y. BNK Law § 221-A

§ 221-a. Doing business without license prohibited. 1. No person,\nco-partnership, association, corporation or other entity shall\nestablish, maintain or use one or more offices in this state as the\nrepresentative of one or more foreign banking corporations unless the\nforeign banking corporation to be represented has first obtained a\nlicense from the superintendent of financial services. Entities lawfully\nregistered pursuant to this article on or before September first,\nnineteen hundred ninety-two shall be deemed licensed pursuant to this\nsection until September first, nineteen hundred ninety-four, provided\nhowever that the superintendent may require the submission of any\nadditional documents or materials relating to the business activities of\nthe registrant as he or she may deem necessary or appropriate.\n 2. Upon receipt of a license, the foreign banking corporation may\nestablish one or more representative offices in this state which shall\nbe subject to examination whenever in the superintendent's judgment such\nexamination is necessary or advisable.\n 3. Such office shall be limited to conducting the following\nactivities: solicitation of loans and in connection therewith, assembly\nof credit information, making of property inspections and appraisals,\nsecuring of title information, preparation of applications for loans\nincluding making recommendations with respect to action thereon,\nsolicitation of investors to purchase loans from the bank, the search\nfor such investors to contract with the bank for the servicing of such\nloans; solicitation of new business and conduct of research. Any other\nactivity which the foreign banking corporation seeks to conduct at such\noffice, shall be subject to the prior written approval of the\nsuperintendent by general regulation or upon application in such form as\nthe superintendent may prescribe.\n