New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 3. Banking |
Chapter I. General Regulations of the Superintendent |
Part 86. Organization and Operation of Stock-Form Savings Banks and Savings and Loan Associations |
Sec. 86.10. Limitations on certain acquisitions of control of stock-form thrift institutions
Latest version.
- An organization certificate of a converting thrift may contain provisions, the effect of which would be to prohibit the acquisition of control of the converted stock-form thrift institution for a period not exceeding three years from the effective date of the conversion from mutual to stock-form.