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Can you summarize 23 NYCRR Part 100?
Regulations of the Superintendent of Financial Services > State Charter Advisory Board: Selection Of Candidates Representing Banking Institutions
Short Summary
The provided legal document pertains to the selection of candidates representing banking institutions for the State Charter Advisory Board. The document outlines the criteria for the composition of the board, which consists of eight members representing different groups of banking institutions based on specific criteria. The superintendent has the sole discretion to select the board members and will consider persons nominated in accordance with section 100.1 of the Part, as well as the representation of bank members in terms of size and geographical location. The document also refers to section 205-b of the Financial Services Law, which outlines additional factors to be considered. The nomination procedure is outlined, with the Department of Financial Services responsible for notifying eligible institutions of the opportunity to nominate candidates. Each institution is allowed to nominate only one person for any vacancy. However, no solicitation for nominations is required for the reappointment of a person who has served for one year or less on the board. The document does not mention any specific exemptions or penalties. Overall, the document ensures a fair and transparent process for selecting board members from banking institutions for the State Charter Advisory Board.
Whom does it apply to?
Banking institutions
What does it govern?
Selection of candidates representing banking institutions for the State Charter Advisory Board
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New York