A subsidiary trust company shall be organized in accordance with the provisions of this chapter relating to the organization of trust companies. All of the outstanding voting stock of a subsidiary trust company shall be owned by a bank holding company.
Terms Used In N.Y. Banking Law 151
- 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