* § 205-b. State charter advisory board. There shall be within the
department a state charter advisory board to work with the
superintendent in retaining state chartered banking institutions,
encouraging federally chartered institutions to convert to a state
charter and promoting the state banking system. There shall be nine
members of the advisory board who shall be appointed by the
superintendent. The membership shall consist of: (a) one representative
of credit unions, (b) one representative of consumers, (c) one
representative of foreign banks; and (d) representatives of banks which,
to the extent practicable, reflect a range of size and geographical
location, provided, however, that at least one shall represent
institutions of more than three billion dollars in assets; at least two
shall represent institutions of less than five hundred million dollars
in assets. The superintendent shall make rules to govern the method by
which state chartered institutions may nominate persons to the board and
the process for selecting such members, provided that the representative
of consumers shall be selected by the superintendent. The term of each
member of such advisory board shall be three years, or until a successor
is appointed and vacancies shall be filled for the unexpired term only.
The board shall meet at least three times annually pursuant to the call
of the superintendent. Such meetings may be held by means of a
conference telephone or similar communications equipment allowing all
persons participating in the meeting to hear each other at the same
time. The members of the advisory board shall receive no compensation
nor reimbursement for expenses. The advisory board may:

(1) consider and recommend ways to maintain the state charter as a
viable and attractive option, including bringing to the superintendent's
attention issues of concern to state chartered banking institutions;

(2) consider and recommend ways to encourage banking institutions to
offer a diversity of financial products and services throughout the
state;

(3) recommend to the superintendent the establishment of such laws as
may be deemed necessary, and the amendment or repeal thereof;

(4) recommend to the superintendent the promulgation of rules and
regulations not inconsistent with the law, as may be deemed necessary,
and the amendment or repeal thereof; and

(5) report within thirty days after receipt, on any proposed
regulations, amendments thereto, or repeal thereof, prior to final
action thereon by the superintendent.

The advisory board shall have no executive, administrative or
appointive powers or duties.

The superintendent shall make an annual report no later than thirty
days after the end of each year to the temporary president of the senate
and the speaker of the assembly, which shall include a summary of the
topics discussed at state charter advisory board meetings during such
year, and any legislative recommendations related to the topics raised
at such meetings or made by any member of the state charter advisory
board.

* NB Repealed October 3, 2026