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The Laws of New York
Consolidated Laws of New York
CHAPTER 2
Banking
ARTICLE 13-A
Licensees: Superintendent's Taking Possession: Conservation: Liquidation
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SECTION 637
Powers of superintendent in possession; application for receiver
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ARTICLE 13-A
Licensees: Superintendent's Taking Possession: Conservation: Liquidation
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SECTION 639
Severability
This entry was published on 2014-09-22
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SECTION 638
Manner and time within which taking possession may be tested
Banking (BNK) CHAPTER 2, ARTICLE 13-A
§ 638. Manner and time within which taking possession may be tested.
At any time within ten days after the superintendent has taken
possession of the business and property of any licensee, such licensee
may apply to the supreme court in the judicial district in which its
principal office is located, for an order requiring the superintendent
to show cause why he should not be enjoined from continuing such
possession. The court may, upon good cause shown, direct the
superintendent to refrain from further proceedings and to surrender such
possession.