6-192. Investments in international and foreign
banking and financing corporations; limitation; consent;
exceptions
A. No bank may, without the consent of the superintendent, invest in stock or other
evidence of ownership in any of the following:
1. Corporations organized under the laws of the United States or any state and
principally engaged in international or foreign banking or in other international or
foreign financial operations, or in banking or other financial operations in a dependency
or insular possession of the United States, either directly or through the agency,
ownership or control of local institutions in foreign countries, or in such dependencies
or insular possessions.
2. Banks organized under the laws of a foreign country or a dependency or insular
possession of the United States. No investment shall be made in a foreign bank if it is
engaged directly or indirectly in any activity in the United States unless the activity
is in the judgment of the superintendent incidental to the international or foreign
business of such bank.
B. The aggregate amount invested in all banks and corporations described in
subsection A of this section shall not exceed, at the time any such investment is made,
twenty-five per cent of the capital account of the bank as defined in section 6-351.
C. The consent of the superintendent for any investment under subsection A of this
section shall be subject to such conditions as he prescribes in his order of approval and
the investment shall be subject to his regulations.
D. The provisions of subsections A and B of this section shall not apply to shares
or evidences of ownership acquired by a bank in the regular course of securing or
collecting a debt contracted in good faith but shares or evidence of ownership acquired
in collecting a debt shall be disposed of within a reasonable time unless otherwise
lawfully held under subsections A and B of this section.
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