New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 3. Banking |
Supervisory Policies and Procedures |
Savings Banks |
Supervisory Policy 1 Authorization of Trust Powers for Savings Banks |
Sec. 1.3. Specific requirements
Latest version.
- An application for authority to exercise any fiduciary power shall consist of:(a) a certified copy of a resolution of the applicant's board of trustees, authorizing the applicant to file the application and to undertake the fiduciary activities specified in the application; and(b) a written statement covering the matters specified in section 1.2(b)-(d) of this Part and such other matters as the Department of Financial Services shall request after consultation with the applicant.