New York Laws > Banking > Article 5-B – License for a Foreign Banking Corporation to Maintain a Representative
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Terms Used In New York Laws > Banking > Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative
- foreign banking corporation: when used in this article, shall mean any banking institution organized under the laws of any jurisdiction other than the United States, any state of the United States or Puerto Rico. See N.Y. Banking Law 221-B
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- representative: shall mean any person or entity engaging in any activity in this state for or on behalf of a foreign banking corporation, provided that such activity is not otherwise permitted by law. See N.Y. Banking Law 221-B
- Service of process: The service of writs or summonses to the appropriate party.