N.Y. Financial Services Law Law 304 – Notice; how given
§ 304. Notice; how given. (a) (1) Except when other notice is required by law, whenever the provisions of this chapter, the insurance law, the banking law or any other applicable law require the superintendent to give notice to any person of any authorized action or proposed action, it shall be sufficient to give such notice in writing either by delivering it to such person or by depositing the same in the United States mail, postage prepaid, registered or certified, and addressed to the last known place of business of such person or if no such address is known to the superintendent, then to the residence address of such person.
Terms Used In N.Y. Financial Services Law Law 304
- Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(2) Such notice shall refer to the provisions of this chapter, the insurance law, the banking law or any other applicable law pursuant to which the authorized action was taken or is proposed to be taken and the grounds therefor, but failure to make such reference shall not render the notice ineffective if the person to whom it is addressed is thereby or otherwise reasonably apprised of such grounds.
(3) If the person being notified is entitled to a hearing by the provisions of this chapter, the banking law, the insurance law or any other law, the notice of proposed action may specify that such proposed action may be considered, or when authorized, taken on a date specified in the notice unless such person shall notify the superintendent in writing that a hearing is demanded; in such case the superintendent shall give such person a further notice of the time and place of such hearing in the manner stated in this paragraph, and to the address specified by such person if provided.
(b) Whenever the provisions of this chapter, the insurance law, the banking law, or any other law require the superintendent to give to any person a hearing on any proposed action, it shall be sufficient compliance with such requirement if the superintendent gives to such person:
(1) notice of the time and the place at which an opportunity for hearing will be afforded, and
(2) an opportunity for hearing, if the person appears at the time and place specified in the notice or any adjourned date.
(c) Any hearing of which such notice is given may be adjourned from time to time without other notice than the announcement thereof at such hearing.
(d) Whenever any person is entitled to a hearing by the provisions of this chapter, the insurance law, the banking law, or any other law before any proposed action is taken, the notice of such proposed action may, if the superintendent deems it expedient, be in the form of a notice to show cause stating that such proposed action may be taken unless such person shows cause at a hearing to be held at a time and place specified in such notice, why such proposed action should not be taken.
(e) The statement of any regular salaried employee of the department of financial services, subscribed and affirmed by such employee as true under the penalties of perjury, stating facts which show that any notice referred to in this section has been delivered or mailed as hereinbefore provided, shall be presumptive evidence that such notice has been duly delivered or mailed, as the case may be.