N.Y. Comp. Codes R. & Regs. tit. 3 § 26.4

Current through Register Vol. 46, No. 53, December 31, 2024

Section 26.4 - Final approval

(a) Following approval by the holders of a majority of the outstanding shares of capital stock of the bank and following the expiration of a 20-day period from the date notice of the stockholder's meeting was mailed to stockholders, the bank may submit to the superintendent an application for final approval of the plan. The application, to be submitted in triplicate, shall consist of:

(1) a certified copy of the resolution of the stockholders adopting the plan and approving any appropriate amendments to the bank's organization certificate;

(2) a sworn statement of the bank's president, secretary or cashier setting forth the votes cast for and against the plan, and stating whether any stockholders have demanded payment for their shares and if so, the number of shares for which payment has been demanded; and

(3) such other documents or information as the superintendent may require.

(b) The superintendent shall approve or disapprove in writing such application.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 26.4