N.Y. BNK Law § 221-D

§ 221-d. Conditions precedent to issuing license; procedure where\napplication denied. Upon the filing of an application for a license, if\nthe superintendent shall find that the financial responsibility,\nexperience, character, and general fitness of the foreign banking\ncorporation and its representative are such as to command the confidence\nof the community and to warrant belief that the representative will\noperate honestly, fairly, and efficiently within the purpose and intent\nof this article, a license shall thereupon be issued in duplicate to\nconduct the activity described in section 221-a of this article in\naccordance with the provisions of this article. If the superintendent\nshall not so find, the license shall not be issued, and the applicant\nshall be notified of the denial. The superintendent shall transmit one\ncopy of such license to the applicant and file another in the office of\nthe department of financial services. Such license shall remain in full\nforce and effect until it is surrendered by the licensee or revoked or\nsuspended as hereinafter provided. The superintendent shall approve or\ndeny every application for a license hereunder within ninety days from\nthe filing thereof provided, however, that failure to act within the\nprescribed period shall not be deemed approval of any such application.\n