N.Y. Comp. Codes R. & Regs. tit. 3 § 418.5

Current through Register Vol. 46, No. 45, November 2, 2024

Section 418.5 - Branch application and fees

(a) An MLS may apply to open and maintain one or more branches. A branch may be applied for by application containing the information and documents set forth in an application form prescribed by the Superintendent. Instructions for submission of applications are available on the Department's website as set forth in section 1.1 of Supervisory Policy G 1 and may be obtained from the Department as set forth above. If an application is requested in writing, the address should indicate the following: Attn: Mortgage Banking Division.

(b) An application for branch office filed by an MLS shall be accompanied by payment of the fee, if any, specified in section 18-a of the Banking Law.

(c) In the event the Superintendent does not reject or deny the application for a branch within 60 days of publication in the Weekly Bulletin of the Department of the receipt of a completed application, the MLS may open the branch.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 418.5

Adopted New York State Register July 17, 2019/Volume XLI, Issue 29, eff. 7/17/2019