§ 224. Application for the establishment of branches or trust offices
not resulting from an acquisition transaction; retention of branches or
trust offices resulting from merger or acquisition. 1. An application
for approval to the superintendent containing such information as he or
she deems necessary shall be submitted by an out-of-state state bank
prior to the establishment of each branch. At the time of making such
application, an investigation fee as prescribed pursuant to section
eighteen-a of this chapter shall be paid to the superintendent for each
branch for which approval is sought. If the superintendent finds that
the opening of the branch is not consistent with the declaration of
policy set forth in section ten of this chapter, he or she shall notify
the applicant that the application has been denied. An out-of-state
state bank or out-of-state state-chartered trust company seeking to
establish one or more trust offices in this state shall comply with the
notice procedures set forth in subdivision four of section one hundred
thirty-one of this chapter.

2. Subject to the provisions of this article, if the merger or
acquisition agreement so provides, an out-of-state state bank may
maintain as a branch or branches or trust office or trust offices the
place or places of business of any banking institution which it has
received into itself as a result of an acquisition transaction
authorized by this article.

3. No out-of-state state bank shall open, occupy or maintain a branch
in this state at a location not permitted to a like-type banking
organization.