§ 413. Reciprocal interstate acquisitions. 1. With the prior approval
of the superintendent, a New York savings and loan holding company or a
subsidiary thereof or a New York savings association may acquire control
of an out-of-state savings and loan holding company or an out-of-state
savings association, and an out-of-state savings and loan holding
company or a subsidiary thereof or an out-of-state savings association
may acquire control of a New York savings and loan holding company or a
New York savings association subject to regulations to be adopted by the
superintendent of financial services. The terms and conditions
prescribed by such regulations shall be substantially similar to those
contained in section one hundred forty-two-b of this chapter governing
reciprocal interstate acquisitions by bank holding companies.

2. For the purposes of this section:

(a) the term "savings association" shall have the same meaning as in
section 10 of an Act of Congress entitled Home Owners Loan Act as
amended from time to time;

(b) the term "savings and loan holding company" shall have the same
meaning as in section 10 of an Act of Congress entitled Home Owners Loan
Act as amended from time to time;

(c) the term "New York savings association" shall mean a savings
association whose principal office is located in this state and the term
"out-of-state savings association" shall mean a savings association
whose principal office is located in a state other than this state or
the District of Columbia; and

(d) the term "New York savings and loan holding company" shall mean a
savings and loan holding company which controls one or more New York
savings associations and the term "out-of-state savings and loan holding
company" shall mean a savings and loan holding company other than a New
York savings and loan holding company which conducts its principal
banking business in a state other than this state or the District of
Columbia. The jurisdiction in which an out-of-state savings and loan
holding company conducts its principal banking business is that state or
the District of Columbia in which the total deposits of such company and
its banking subsidiaries are largest.