To the extent not inconsistent with provisions of this article, a subsidiary trust company shall be subject to the laws of the state of New York generally applicable to trust companies. Nothing in this article shall be deemed to affect in any way the powers of the superintendent of financial services to adopt, alter or amend rules and regulations with respect to trust companies, provided that no such rule or regulation shall be applicable to a subsidiary trust company to the extent it is inconsistent with, or purports to limit the powers or rights of a subsidiary trust company expressly granted by, the provisions of this article.
Terms Used In N.Y. Banking Law 155
- 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