3 CRR-NY 410.6NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 3. BANKING
CHAPTER III. SUPERINTENDENT'S REGULATIONS
SUBCHAPTER B. NON-BANKING ORGANIZATIONS
PART 410. MORTGAGE BANKERS: LICENSING REQUIREMENTS; MORTGAGE BROKERS: REGISTRATION REQUIREMENTS; BRANCH APPLICATIONS: NOTIFICATIONS: BOOKS AND RECORDS; ANNUAL REPORTS; SURETY BONDS; AND CONSULTANTS OF LICENSED MORTGAGE BANKERS AND REGISTERED MORTGAGE BROKERS
3 CRR-NY 410.6
3 CRR-NY 410.6
410.6 Changes in officers, directors, or control of mortgage banker or mortgage broker.
(a) Change in control.
For purposes of this Part, a change in control shall be construed in accordance with section 594-b of the Banking Law.
(1) Minimum standards for control of a mortgage banker or a mortgage broker shall be in accordance with sections 410.1 and 410.3 of this Part, as applicable.
(2) Applications for change of control of a mortgage banker or mortgage broker shall be in writing, subscribed by the applicant under penalty of perjury, and shall contain the information and documents referred to in Supervisory Procedure MB 103 or MB 104 of this Title, as applicable, as well as any other information and documents as the superintendent may require.
(b) Change in officers and directors.
Every mortgage broker and mortgage banker shall within 10 days after a change of any of the directors or the three most senior executive officers or, if different, any officer(s) in charge of the New York operations of the licensed or registered entity submit to the superintendent, in writing:
(1) the name, address and occupation of such new executive officer or director; and
(2) provide such other information as the superintendent may require.
3 CRR-NY 410.6
Current through March 31, 2022
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