11 - Banking department; official documents; destruction of documents; official communications.

§ 11.   Banking   department;   official   documents;  destruction  of  documents; official communications. 1. The banking department  shall  be  charged  with  the  execution  of  the laws relating to the individuals,  partnerships, corporations and other entities to which this  chapter  is  applicable and shall exercise such powers and perform such duties as are  conferred  and  imposed  upon  it  by this chapter or by any law of this  state. The principal office of the department shall be in  the  city  of  Albany.    2.  Every  paper executed by an officer of the department in pursuance  of authority conferred by law and sealed with the official seal  of  the  department  shall  be  received  in evidence, and may be recorded in the  proper recording offices in the same manner and with the same effect  as  a deed regularly acknowledged.    3.   (a)  Except  as  specified  in  paragraph  (b)  or  (c)  of  this  subdivision, any  report  expressly  required  to  be  rendered  to  the  superintendent  under  any  provision  of this chapter, any report of an  examination made in accordance with any provision of this  chapter,  and  any  oath  or  declaration of office received by the department shall be  retained in such form and for such period as  the  superintendent  finds  necessary  and  proper.  After  such  period  the  superintendent  shall  recommend disposal of such material in accordance with the provisions of  the arts and cultural affairs law.    (b) Reports made in accordance with  section  twenty-eight-b  of  this  chapter  or  pursuant  to the rules and regulations of the banking board  promulgated in connection with assessing a banking organization's record  of performance in meeting the credit needs of local  communities  within  the meaning of section twenty-eight-b of this chapter, including reports  expressly  required  to be rendered to the superintendent and reports of  examinations may be destroyed at the direction of the superintendent and  in accordance with the provisions of the arts and cultural  affairs  law  after three years from date of receipt thereof, provided any such report  has  first been photographed, microphotographed or otherwise reproduced.  Each such reproduction shall be retained in the files of the  department  for  a  period  of  at  least  fifteen  years  from the date of the last  received report,  oath  or  declaration  appearing  thereon.  After  the  expiration  of  such  period,  such reproduction may be destroyed at the  direction of the superintendent and in accordance with the provisions of  the arts and cultural affairs law. Such reproduction  thereof  shall  be  deemed,  for any purpose, the equivalent of the original of such report.  Any such report not so reproduced shall be retained in the files of  the  department  for  a  period  of  at  least fifteen years from the date of  receipt thereof, after which it may be destroyed at the direction of the  superintendent and in accordance with the provisions  of  the  arts  and  cultural affairs law.    (c)  This  subdivision  shall  not  apply to any records, documents or  correspondence referred to in subdivision four of  section  six  hundred  twenty-seven of this chapter.    4.  Any  communication  from  the  banking  department  to any person,  partnership, corporation or other entity may contain  a  direction  that  such  communication  shall  be  presented  to  the controlling owners or  principal management of such entity, members of such partnership  or  to  the  board of directors or trustees of such corporation. A communication  containing such direction shall be for the purposes of this  chapter  an  official   communication.   The   superintendent  may,  in  his  or  her  discretion, notify in writing each owner or principal  manager  of  such  entity,  every  member of such partnership and every director or trustee  of such corporation of the sending of such a communication and, in  that  event the notification shall state the date of such communication.