N.Y. Banking Law § 638

Current through 2024 NY Law Chapter 553

Section 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.

N.Y. BankingLaw § 638