2017 New York Laws
BNK - Banking
Article 5 - Foreign Banking Corporations and National Banks
202-J - Power to Act as Trustee Under Self-Employed Retirement Trust or Individual Retirement Trust.

 202-j.  Power to act as trustee under self-employed retirement trust
  or individual retirement trust. Each such  foreign  banking  corporation
  which  is  authorized to maintain a branch or branches in this state the
  deposits  of  which  are  insured  by  the  federal  deposit   insurance
  corporation  or any successor may, subject to any regulations prescribed
  by the superintendent of financial services, act through any such branch
  as  trustee  under  a  retirement  plan  established  pursuant  to   the
  provisions  of  the  act of congress entitled "Self-employed Individuals
  Tax Retirement Act of 1962" as such provisions may be amended from  time
  to  time,  and  under  an individual retirement account plan established
  pursuant to the amendments to the provisions  of  the  Internal  Revenue
  Code  contained  in  the  act  of congress entitled "Employee Retirement
  Income Security Act of 1974" as such provisions may be amended from time
  to time, provided that the provisions of such retirement  or  individual
  retirement  account  plan require the funds of such trust to be invested
  exclusively in deposits of  branches  of  foreign  banking  corporations
  located  in  this state the deposits of which are insured by the federal
  deposit insurance corporation or any successor and in deposits of banks,
  trust companies, savings banks, savings and loan  associations,  federal
  mutual  savings  or  federal  savings  banks or federal savings and loan
  associations whose principal offices are located in this state.  In  the
  event  that  any  such retirement or individual retirement account plan,
  which in the judgment of the foreign banking corporation  constituted  a
  qualified  plan  under  the provisions of the applicable act of congress
  hereinabove mentioned and the regulations promulgated thereunder at  the
  time  the  trust  was  established  and  accepted by the foreign banking
  corporation is subsequently determined not to be such a  qualified  plan
  or subsequently ceases to be such a qualified plan, in whole or in part,
  the  foreign  banking  corporation may, nevertheless, continue to act as
  trustee of any deposits theretofore made under such plan and to  dispose
  of  the  same in accordance with the directions of the depositor and the
  beneficiaries thereof. No foreign banking  corporation,  in  respect  to
  deposits  made  under  this section, shall be required to segregate such
  deposits from  other  deposits  of  such  foreign  banking  corporation,
  provided,  however,  that  the  foreign  banking  corporation shall keep
  appropriate records showing in proper detail all transactions engaged in
  under the authority of this section.