§ 224. Application for the establishment of branches or trust offices\nnot resulting from an acquisition transaction; retention of branches or\ntrust offices resulting from merger or acquisition. 1. An application\nfor approval to the superintendent containing such information as he or\nshe deems necessary shall be submitted by an out-of-state state bank\nprior to the establishment of each branch. At the time of making such\napplication, an investigation fee as prescribed pursuant to section\neighteen-a of this chapter shall be paid to the superintendent for each\nbranch for which approval is sought. If the superintendent finds that\nthe opening of the branch is not consistent with the declaration of\npolicy set forth in section ten of this chapter, he or she shall notify\nthe applicant that the application has been denied. An out-of-state\nstate bank or out-of-state state-chartered trust company seeking to\nestablish one or more trust offices in this state shall comply with the\nnotice procedures set forth in subdivision four of section one hundred\nthirty-one of this chapter.\n 2. Subject to the provisions of this article, if the merger or\nacquisition agreement so provides, an out-of-state state bank may\nmaintain as a branch or branches or trust office or trust offices the\nplace or places of business of any banking institution which it has\nreceived into itself as a result of an acquisition transaction\nauthorized by this article.\n 3. No out-of-state state bank shall open, occupy or maintain a branch\nin this state at a location not permitted to a like-type banking\norganization.\n
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