2010 New York Code
BNK - Banking
Article 13 - (600 - 634) MERGER; VOLUNTARY DISSOLUTION; SUPERINTENDENT'S TAKING POSSESSION; REORGANIZATION; LIQUIDATION
604-A - Transfer of fiduciary relationships of a banking institution.

§ 604-a. Transfer of fiduciary relationships of a banking institution.
  1.  If  any  banking  institution,  including  a  bank or trust company,
  national  banking  association,   savings   bank,   savings   and   loan
  association,  federally  chartered  savings  bank,  federally  chartered
  savings  and  loan  association,  located  in  this  state,  shall  have
  transferred  all  or  substantially all of its assets to another banking
  institution in a transaction subject  to  this  chapter  pursuant  to  a
  written  agreement  between  the  transferor and transferee corporations
  whereby the transferee corporation has assumed the deposit  liabilities,
  if  any,  of  the  transferor  corporation  and has agreed to assume all
  fiduciary relationships of the transferor  corporation,  the  transferee
  corporation  may  file in the office of the superintendent a certificate
  in its name and under its  corporate  seal,  signed  by  its  president,
  secretary or cashier, setting forth a copy of such agreement and stating
  that   the   transferee   corporation   assumes  all  of  the  fiduciary
  relationships of the transferor corporation pursuant to  the  provisions
  of  this  section; provided, however, that such certificate shall not be
  filed unless the approval of the superintendent shall have been endorsed
  thereon or annexed thereto before filing.
    2.  Upon  the  filing  of  such  certificate  in  the  office  of  the
  superintendent,  all  of  the property, rights, powers and franchises of
  the transferor corporation as fiduciary shall  vest  in  the  transferee
  corporation  and  the  transferee  corporation  shall  be deemed to have
  assumed all of the debts, liabilities, obligations  and  duties  of  the
  transferor  corporation  as  fiduciary, and to have succeeded to all the
  fiduciary relationships of the transferor corporation, as fully and with
  the same effect as is provided in sections one hundred thirty-six-c  and
  six  hundred  two  in  the  case  of  a merger, and any reference to the
  transferor corporation as fiduciary in any capacity,  contained  in  any
  contract,  will or document, whether executed or taking effect before or
  after  the  filing  of  such  certificate   in   the   office   of   the
  superintendent,  shall  be  considered  a  reference  to  the transferee
  corporation if  not  inconsistent  with  the  other  provisions  of  the
  contract, will or document.
    3. For the purposes of this section the fiduciary relationships of the
  transferor  shall include all relationships as agent, trustee, guardian,
  receiver, committee,  conservator,  executor,  administrator,  or  other
  fiduciary  in  any  capacity or for any purpose mentioned in section one
  hundred, and all relationships of the transferor as bailee or depositary
  of personal property.
    4. This  section  shall  not  be  deemed  to  authorize  a  transferee
  corporation  to  assume  any  fiduciary  relationship of a kind which it
  would not otherwise have power to undertake and perform. Nothing in this
  section shall be deemed to authorize any such transferee corporation  to
  maintain  as  its  own  office  any  office previously maintained by the
  transferor corporation, and authority, if  any,  to  maintain  any  such
  office  shall be governed by the applicable provisions of law other than
  this section. This section shall not be deemed to apply to contracts  of
  the transferor for the leasing of safe deposit boxes or vaults.