N.Y. BNK Law § 337

§ 337. Sale of safe deposit business. Subject to the provisions of\nsubdivision eight of section six hundred five of article thirteen of\nthis chapter, any banking organization or foreign banking corporation\nmay, with the approval of the superintendent, sell to another banking\norganization, foreign banking corporation or national banking\nassociation authorized to conduct the business of renting safe deposit\nboxes, all or any part of its safe deposit business, and upon at least\nthirty days notice in writing to the lessees of the safe deposit boxes\nso sold, such safe deposit boxes may be delivered to the possession of\nsuch purchasing banking organization, foreign banking corporation or\nnational banking association and thereupon, except for claims against\nthe selling banking organization or foreign banking corporation asserted\nin writing prior to such delivery, the obligations and rights of the\nselling banking organization or foreign banking corporation upon the\nleases relating thereto shall be deemed to be assumed by the purchasing\nbanking organization, foreign banking corporation or national banking\nassociation as a successor in interest of the selling banking\norganization or foreign banking corporation and the selling banking\norganization or foreign banking corporation shall be discharged from\nliability in respect thereof. Any lessee of a safe deposit box, upon\nreceipt of a notice in writing of the proposed sale of such safe deposit\nbox by a banking organization or foreign banking corporation, may\nterminate his lease therefor by removing the contents therefrom and\nsurrendering such safe deposit box to the banking organization or\nforeign banking corporation prior to the date fixed in such notice for\nthe delivery of such safe deposit box to the purchasing banking\norganization, foreign banking corporation or national banking\nassociation and thereupon such lessee shall be entitled to a refund of\nthe unearned rent, if any, paid by such lessee to the selling banking\norganization or foreign banking corporation.\n