N.Y. Banking Law § 607

Current through 2024 NY Law Chapter 456

Section 607 - Manner and time within which taking possession may be tested

At any time within ten days after the superintendent has taken possession of the property and business of any banking organization such banking organization may apply to the supreme court in the judicial district in which its principal office is located, for an order requiring the superintendent to show cause why he should not be enjoined from continuing such possession. The court may, upon good cause shown, direct the superintendent to refrain from further proceedings and to surrender such possession.

N.Y. BankingLaw § 607