Section 201-C. Notice of acquisition of control or merger  


Latest version.
  • 1. A foreign
      banking corporation licensed pursuant to article two of this chapter  to
      maintain  a  branch  or  agency  in  this  state  shall  file  with  the
      superintendent a notice, in such form and containing such information as
      the superintendent may prescribe, no later than fourteen  calendar  days
      after  such foreign banking corporation becomes aware of any acquisition
      of control of such corporation or merges with  another  foreign  banking
      corporation.
        2.  Control, for purposes of this section, means any person or entity,
      or  group  of  persons  or  entities  acting  in  concert,  directly  or
      indirectly,   owning,   controlling  or  holding  with  power  to  vote,
      twenty-five percent or more of any class of voting stock of such foreign
      banking corporation, or having the ability in  any  manner  to  elect  a
      majority  of  the  directors  of  such  foreign  banking corporation, or
      otherwise exercising a controlling influence  over  the  management  and
      policies   of  such  foreign  banking  corporation  as  defined  by  the
      superintendent by regulation.