A New York applicant in 2026 was an employee of a revoked entity but bore no responsibility for it. Can employment at the revoked entity alone establish this refusal ground?
Correct Answer
B) That ground fails: responsibility must be found for employees
The refusal ground for an agent, employee, officer or consultant of a revoked entity applies where such person shall have been found by the superintendent to bear responsibility in connection with the revocation, which is not required for a director, partner or substantial stockholder. Other choices: the responsibility finding is part of the ground; objecting is not the test; and later licensure is not. Source: N.Y. Banking Law § 592-a(2)(d)
Why This Is the Correct Answer
The refusal ground for an agent, employee, officer or consultant of a revoked entity applies where such person shall have been found by the superintendent to bear responsibility in connection with the revocation, which is not required for a director, partner or substantial stockholder. Other choices: the responsibility finding is part of the ground; objecting is not the test; and later licensure is not. Source: N.Y. Banking Law § 592-a(2)(d)
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