N.Y. Comp. Codes R. & Regs. tit. 3 § 406.8

Current through Register Vol. 46, No. 43, October 23, 2024

Section 406.8 - Revocation; possession

(a) Licenses granted under article XIII-B of the Banking Law may be revoked for the grounds specified in section 642 of the Banking Law after notice and hearing conducted in accordance with the State Administrative Procedure Act and Banking Department regulations.

(b) The superintendent may take possession of the business and property of any licensee as provided in article XIII-A of the Banking Law for the reasons stated therein.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 406.8