N.Y. Banking Law § 202-i

§ 202-i. Safe deposit business of branches. Each such foreign banking\ncorporation which is authorized to maintain a branch or branches in this\nstate may (a) receive upon deposit for safe-keeping for hire upon terms\nand conditions to be prescribed by such foreign banking corporation,\nmoney, securities, papers of any kind and any other personal property,\nand (b) engage in the safe deposit business by renting vaults, safe\ndeposit boxes or other receptacles upon premises of such branch or\nbranches, upon such terms and conditions as may be prescribed by such\nforeign corporation.\n