1. “Subsidiary trust company”, when used in this article, means a trust company which is subject to the provisions of this article.

Terms Used In N.Y. Banking Law 150

  • Fiduciary: A trustee, executor, or administrator.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • subsidiary: when used in this article, shall each have the same meaning specified in section one hundred forty-one of this chapter. See N.Y. Banking Law 150
  • Subsidiary trust company: when used in this article, means a trust company which is subject to the provisions of this article. See N.Y. Banking Law 150

2. “Bank holding company” and “subsidiary”, when used in this article, shall each have the same meaning specified in section one hundred forty-one of this chapter.

3. “Owning bank holding company”, when used in this article with respect to a subsidiary trust company, means the bank holding company which owns all of the outstanding voting stock of such subsidiary trust company.

4. When used in this article, an “affiliated bank” or “affiliated trust company” of a subsidiary trust company means any bank, trust company, savings bank, savings and loan association, national bank, federal savings bank, federal savings association, or out-of-state state bank (as such term is defined in section two hundred twenty-two of this chapter), or such other banking institution as the superintendent of financial services may permit specifically or by general rule or regulation, which is a subsidiary of the bank holding company which owns such subsidiary trust company.

5. “Trust office”, when used in this article with respect to a subsidiary trust company, means an office of the subsidiary trust company maintained for the purpose of conducting its business.

6. “Trust officer”, when used in this article with respect to a trust company which is not a subsidiary trust company, means an office maintained solely for the purpose of conducting business relating to the exercise of its fiduciary powers.