12 - Superintendent of banks; acting superintendent; discretion. - New York Statutes

§ 12. Superintendent of banks; acting superintendent; discretion. 1. The superintendent of banks shall be the head of the banking department. He shall be appointed by the governor, by and with the advice and consent of the senate, and shall hold office until the end of the term of the governor by whom he was appointed and until his successor is appointed and has qualified. Within fifteen days from the time of notice of his appointment, the superintendent shall take and subscribe the constitutional oath of office. 2. The superintendent may, in his discretion, designate one of his deputies to act as superintendent during the superintendent's absence or inability to act. If the office of superintendent is vacant, or if the superintendent's absence or inability to act continues for a period of more than thirty successive days, the governor may designate a deputy to act as superintendent until the filling of the vacancy or the return or recovery of the superintendent. 3. Whenever in this chapter the superintendent is authorized but not required to take any action or his approval is required as a condition precedent to the doing of any act, the taking of such action and the giving of such approval shall be within his sound discretion. In taking any action with respect to any banking organization, and in approving or disapproving any application made by a banking organization, the superintendent shall give due consideration to the policy of the state of New York as declared in section ten of this chapter.