New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 66 - Reciprocal Interstate Acquisitions Of Savings And Loan Associations
Section 66.4 - Acquisitions of out-of-state insured institutions
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Except with the prior approval of the superintendent, no savings and loan holding company or subsidiary thereof shall acquire control of an out-of-state savings and loan holding company or an insured institution, the principal office of which is located in a state other than this State or the District of Columbia if the statute laws of the jurisdiction of the out-of-state savings and loan holding company of insured institution authorized such acquisition because of the provisions of Banking Law, section 413 and this Part.
(b) A savings and loan holding company or subsidiary thereof that seeks such approval shall file a written application with the superintendent and pay the fee specified in section 1.2 of Supervisory Policy G 1 of this Title. The application shall contain such information as the superintendent may deem necessary for the purposes of making a determination under this Part.
(c) The superintendent shall deny any application submitted for approval pursuant to section 66.5 of this Part if, after notice to and on opportunity to be heard by the applicant, the superintendent finds that either:
(d) Unless the superintendent shall have denied such application in writing within 120 days of the receipt thereof, or shall have advised the applicant in writing by certified or registered mail prior to the expiration of 120 days of his or her determination to extend such period an additional 60 days, such application shall be deemed approved.