N.Y. BNK Law § 94
This is the official text of N.Y. BNK Law § 94, part of New York’s BNK Law — part of the compiled statutory law of New York, published by the state as "BNK Law." Browse the sections below, each linked to its official government source.
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Change from bank to trust company; from trust company to bank
Official statutory text
§ 94. Change from bank to trust company; from trust company to bank.\n A bank complying with the minimum capital stock requirements specified\nin subdivision nine of section four thousand one of this chapter may\nbecome a trust company by filing a certificate pursuant to subdivision\ntwo of section eight thousand one of this chapter to provide that it\nshall have the powers specified in section one hundred of this article.\nA trust company may become a bank by filing a certificate pursuant to\nsubdivision two of section eight thousand one of this chapter to provide\nthat it shall not have the powers specified in section one hundred of\nthis article. Prior to or simultaneously with the filing of such\ncertificate, such trust company shall if its title contains the term\n"trust company" file a certificate pursuant to subdivision two of\nsection eight thousand one of this chapter for the purpose of omitting\nsuch term from its title.\n
Status: in_force · Read it on the official government site
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