2006 New York Code - Approval Of Superintendent.

 
    § 136-b.  Approval  of  superintendent.  1.  The  superintendent shall
  approve or disapprove of a proposed merger as authorized by section  one
  hundred thirty-six of this chapter or a proposed acquisition of all or a
  substantial  part  of  the  assets  of a national banking association as
  authorized by section one hundred thirty-six-a of this chapter,  as  the
  case  may be, within one hundred twenty days after the submission of the
  proposed plan thereof to him.  In determining whether to so approve, the
  superintendent shall take into  consideration  (i)  the  declaration  of
  policy contained in section ten of this chapter, (ii) whether the effect
  of  such  merger  or  acquisition  shall be either to expand the size or
  extent  of  the  resulting  or  acquiring  institution   beyond   limits
  consistent  with adequate and sound banking and the preservation thereof
  or result in a concentration of assets  beyond  limits  consistent  with
  effective  competition,  (iii)  whether  such  merger or acquisition may
  result in such a lessening of competition as  to  be  injurious  to  the
  interests  of the public or tend toward monopoly and (iv) primarily, the
  public  interest  and  the  needs  and  convenience  thereof.   If   the
  superintendent  shall  approve  such  proposed merger or acquisition, he
  shall file the plan, together with such certificates and the original of
  the approval of the superintendent, in the office of the superintendent,
  and, in the case of merger, a duplicate of the  plan,  together  with  a
  duplicate   of  each  of  such  certificates  and  a  duplicate  of  the
  superintendent's approval, shall be filed in the office of the clerk  of
  the county in which the principal office of the receiving corporation is
  located.  Upon  such  filing  in  the  office of the superintendent, the
  merger or acquisition shall become effective, unless  a  later  date  is
  specified  in  the  plan, in which event the merger or acquisition shall
  become effective upon such later date.
    2. Notwithstanding the provisions of subdivision one of this  section,
  the approval of the superintendent shall not be required with respect to
  such  merger  or  acquisition,  if  any of the corporations which are to
  merge, or  if  the  selling  or  acquiring  corporation,  is  a  banking
  subsidiary  of a bank holding company, and the banking board pursuant to
  section one hundred forty-two of this chapter has granted  its  approval
  for  such  bank  holding  company,  or  any trustee or trustees who hold
  voting  stock  of  such  banking  subsidiary  for  the  benefit  of  the
  stockholders  or members of such bank holding company, to vote the stock
  of  such  banking  subsidiary  in  favor  of  the  proposed  merger   or
  acquisition.    The  superintendent  shall  file  the  plan of merger or
  acquisition and the certificate submitted to him pursuant to section one
  hundred thirty-six or section one hundred thirty-six-a of this  chapter,
  together  with  a  certified copy of the resolution of the banking board
  granting such approval, in the office of the superintendent, and, in the
  case of a  merger,  a  duplicate  of  the  plan  and  of  each  of  such
  certificates,  together  with a certified copy of such resolution, shall
  be filed in the office of the clerk of the county in which the receiving
  corporation  is  located.  Upon  such  filing  in  the  office  of   the
  superintendent, the merger or acquisition shall become effective, unless
  a  later  date  is  specified  in the plan, in which event the merger or
  acquisition shall become effective upon such later date. For purposes of
  this  subdivision,  the  terms  "bank  holding  company"  and   "banking
  subsidiary"  shall  have  the  meanings  stated  in  section one hundred
  forty-one of this chapter.