Statutes > New York Statutes > BNK - Banking > Article 5 - (200 - 209) FOREIGN BANKING CORPORATIONS AND NATIONAL BANKS > 202-D - Foreign banking corporation may not maintain both agencies and branches in this state.

202-D - Foreign banking corporation may not maintain both agencies and branches in this state.

§ 202-d.  Foreign  banking  corporation may not maintain both agencies  and branches in this state. No foreign banking corporation  licensed  to  maintain  one  or  more  agencies  in  this  state  shall be licensed to  maintain a branch in this state except upon termination of the operation  of such agency or agencies; and no foreign banking corporation  licensed  to  maintain  one  or  more  branches in this state shall be licensed to  maintain an  agency  in  this  state  except  upon  termination  of  the  operation of such branch or branches.