Sec. 103.2. Application for community afforded home office protection

The Department of Financial Services will not accept applications for branch offices in communities from which the applicant would be barred, at the time of filing, under the home office protection provisions of the New York Banking Law; provided, however, such a branch application may be accepted for filing if there exists on such date any application with the appropriate regulatory authorities which would, if approved, eliminate the protection provisions of section 105 of the New York Banking Law. No final action will be taken on such branch application until home office protection will have ceased under New York Banking Law.