New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 22 - Common Trust Funds
Section 22.11 - Direction of banking board
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 22.11
Current through Register Vol. 46, No. 12, March 20, 2024
The Banking Board, upon recommendation of the superintendent, may direct by a three-fifths vote of all its members that:
(a) a trust company file on account of proceedings covering a period less than 10 years, in accordance with subsection 100-c(6) of the Banking Law;
(b) any common trust fund be terminated; or
(c) the audit specified by section 22.17 of this Part be performed by a Certified Public Accountant.
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