§ 136-b. Approval of superintendent. The superintendent shall approve
or disapprove of a proposed merger as authorized by section one hundred
thirty-six of this article or a proposed acquisition of all or a
substantial part of the assets of a national banking association as
authorized by section one hundred thirty-six-a of this article, as the
case may be, within one hundred twenty days after the submission of the
proposed plan thereof to him or her. In determining whether to so
approve, the superintendent shall take into consideration (i) the
declaration of policy contained in section ten of this chapter, (ii)
whether the effect of such merger or acquisition shall be either to
expand the size or extent of the resulting or acquiring institution
beyond limits consistent with adequate and sound banking and the
preservation thereof or result in a concentration of assets beyond
limits consistent with effective competition, (iii) whether such merger
or acquisition may result in such a lessening of competition as to be
injurious to the interests of the public or tend toward monopoly and
(iv) primarily, the public interest and the needs and convenience
thereof. If the superintendent shall approve such proposed merger or
acquisition, he or she shall file the plan, together with such
certificates and the original of the approval of the superintendent, in
the office of the superintendent, and, in the case of merger, a
duplicate of the plan, together with a duplicate of each of such
certificates and a duplicate of the superintendent's approval, shall be
filed in the office of the clerk of the county in which the principal
office of the receiving corporation is located. Upon such filing in the
office of the superintendent, the merger or acquisition shall become
effective, unless a later date is specified in the plan, in which event
the merger or acquisition shall become effective upon such later date.