Foreign Banking Corporation: Change of Manager, Representative, or Individual Designated to Receive Process


Supervisory Procedure FB 105 -- Procedure For A Foreign Banking Corporation For A Change Of Manager, Representative Or Individual Designated To Receive Process
(Statutory authority: Banking Law, § 200)


105.1 General information
105.2 Documents required

History: Procedure filed: May 17, 1993 as emergency measure, expired 90 days after filing; May 3, 1994 eff. May 18, 1994.

FB 105 - § 105.1 -- General Information.

A foreign banking corporation maintaining a New York State-licensed branch, agency or representative office that proposes to change its manager, deputy manager, representative or individual designated to receive process, shall submit a letter to the superintendent indicating the name(s) of the individual(s) to whom such change is being made.

FB 105 - § 105.2 -- Documents Required.

The letter shall be accompanied by:

(a) A certified copy of the resolution of the foreign banking corporation"s board of directors (accompanied by a translation into English if applicable) sworn to before a United States Consular Official (or accompanied by an apostille):

(1) authorizing designation of the person who is to be in charge of the business and affairs of the branch or agency, or named as the representative of the bank, and/or authorizing designation of the officer to whom process may be forwarded by the Superintendent of Financial Services; or

(2) evidencing that the board of directors has designated a person in the bank who is authorized to appoint persons to the position of general manager, deputy general manager, representative of the bank, or officer to whom process may be forwarded by the Superintendent of Financial Services accompanied by a certificate (in English), signed by the person designated in the resolution, appointing an individual to such position.

(b) Certificate of designation, specifying the name and address of the officer to whom process may be forwarded by the superintendent if different (form available from superintendent).

(c) A litigation affidavit executed by the new individual (form available from superintendent).

(d) A brief resume of the new individual, disclosing his or her educational and business background.