Foreign Banking Corporations

Notification of Change of Location Foreign Representative Office

Please note the following:

1. The information requested largely tracks the information requested for an Application for a change of location - Foreign Branch/Foreign Agency.
2. Documents executed in foreign countries must be properly certified and legalized. Please refer to Supervisory Policy G 7 (Legalization of Foreign Documents).
3. A form of notice may be utilized.
4. The foreign banking corporation should provide a draft of the new Certificate of Designation with its notification relating to the proposed location change. The foreign banking corporation should also submit to the Department its new executed Certificate of Designation indicating the new address where the Department can forward process served on the Superintendent at the time it relocates its representative office, which would be after receiving consent from the Department.

UNOFFICIAL COPY

SUPERVISORY POLICY G 7 - LEGALIZATION OF FOREIGN DOCUMENTS.

§ 7.1 -- General statement.

From time to time, documents executed in foreign countries must be submitted to the Department of Financial Services. Such documents include applications by a foreign banking corporation for a license to open a branch or agency in New York, appointment of New York branch manager as well as certifications as to paid-in-capital stock, surplus fund and undivided profit. Such requirements are found, for example, in article V of the New York State Banking Law and Supervisory Procedure CB 104.

On October 15, 1981, the United States became a party to the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents. The convention simplified the procedure for having a foreign document legalized. Each country which is a party to the convention designates the authority or authorities who may certify public documents. A certification, also known as an apostille, is affixed to the document by the competent local authority of the foreign country where the document originated. The form of the apostille is set forth in section 7.2 of this supervisory policy in the same form as set forth in the convention. Further legalization of documents will not be required for submission in the case of documents originating in countries which are parties to the convention. 

§ 7.2 -- Model form of apostille. 

§ 7.3 -- Limitations.

This supervisory policy applies only to documents originating in countries which are party to the convention. The Department will rely on opinions of counsel or other appropriate evidence from parties seeking to use this supervisory policy that the country in which the documents originate is a party to the convention.