N.Y. Banking Law § 202-d — Foreign banking corporation may not maintain both agencies and branches in this state

§ 202-d. Foreign banking corporation may not maintain both agencies\nand branches in this state. No foreign banking corporation licensed to\nmaintain one or more agencies in this state shall be licensed to\nmaintain a branch in this state except upon termination of the operation\nof such agency or agencies; and no foreign banking corporation licensed\nto maintain one or more branches in this state shall be licensed to\nmaintain an agency in this state except upon termination of the\noperation of such branch or branches.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.