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2016 New York Laws
BNK - Banking
Article 5-B - (Banking) LICENSE FOR A FOREIGN BANKING CORPORATION TO MAINTAIN A REPRESENTATIVE
221-B - Definitions.

NY Banking L § 221-B (2016) What's This?
 221-b.  Definitions.  1.  Banking  institution.  The  term  "banking
  institution",  when  used  in  this  article,  shall  mean  any   entity
  authorized by its charter to accept deposits and to make loans.

2.   Foreign   banking   corporation.   The   term   "foreign  banking
  corporation",  when  used  in  this  article,  shall  mean  any  banking
  institution  organized under the laws of any jurisdiction other than the
  United States, any state of the United States or Puerto Rico.

3. Representative. The term "representative" shall mean any person  or
  entity  engaging  in  any  activity  in this state for or on behalf of a
  foreign  banking  corporation,  provided  that  such  activity  is   not
  otherwise permitted by law.

4.  The  superintendent  shall  be authorized to exempt from the above
  definitions such additional persons,  entities,  activities  or  classes
  thereof  which  shall  be  deemed appropriate in order to effectuate the
  purposes of this article.

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