3860. In this article, unless the context otherwise requires:
(a) "Controlling person," when used with respect to an uninsured
foreign (other state) bank, means any person who directly or
indirectly controls the bank. For purposes of this subdivision,
"control" has the meaning set forth in subdivision (b) of Section
700, and "person" has the meaning set forth in subdivision (d) of
Section 700.
(b) "Executive officer," when used with respect to an uninsured
foreign (other state) bank or a controlling person of an uninsured
foreign (other state) bank, means the chief executive officer, the
chief operating officer, the chief financial officer, and any other
person who participates or has authority to participate in major
policymaking functions of the bank or controlling person.
(c) (1) "License" means a license issued under this article,
authorizing an uninsured foreign (other state) bank to maintain a
facility.
(2) "Licensed" means to be issued or to hold a license.
3861. (a) In this section, "act" includes (without limitation)
omission.
(b) For purposes of making findings on an application by an
uninsured foreign (other state) bank for approval to establish a
facility:
(1) The commissioner may, in the absence of credible evidence to
the contrary, presume that the directors, executive officers, and any
controlling person of the bank, the directors and executive officers
of any controlling person of the bank, and the members of the
proposed management of the facility are each of good character and
sound financial standing.
(2) The commissioner may find that the bank, a director, executive
officer, or controlling person of the bank, a director or executive
officer of a controlling person of the bank, or any member of the
proposed management of the facility is not of good character if the
person has done any of the following:
(A) Has been convicted of, or has pleaded nolo contendere to, any
crime involving an act of fraud or dishonesty.
(B) Has consented to or suffered a judgment in any civil action
based upon conduct involving an act of fraud or dishonesty.
(C) Has consented to or suffered the suspension or revocation of
any professional, occupational, or vocational license based upon
conduct involving an act of fraud or dishonesty.
(D) Has willfully made or caused to be made in any application or
report filed with the commissioner or in any proceeding before the
commissioner any statement that was at the time and in the light of
the circumstances under which it was made false or misleading with
respect to any material fact, or has willfully omitted to state in
any such application or report any material fact that was required to
be stated in the application or report.
(E) Has willfully committed any violation of, or has willfully
aided, abetted, counseled, commanded, induced, or procured the
violation by any other person of, any provision of this division or
of any regulation or order issued under this division.
(c) Paragraph (2) of subdivision (b) is not an exclusive list of
the grounds upon which the commissioner may find, for purposes of
making findings on an application by an uninsured foreign (other
state) bank for approval to establish a facility, that the bank, a
director, executive officer, or controlling person of the bank, a
director or executive officer of a controlling person of the bank, or
any member of the proposed management of the facility is not of good
character.
3862. (a) No uninsured foreign (other state) bank may establish or
maintain an office in this state at which it engages in noncore
banking business unless the uninsured foreign (other state) bank is
licensed to maintain the office as a facility.
(b) (1) No person may establish or maintain an office in this
state as representative of an uninsured foreign (other state) bank
unless the uninsured foreign (other state) bank is licensed to
maintain the office as a facility.
(2) For purposes of this article, if any person establishes or
maintains an office in this state as representative of an uninsured
foreign (other state) bank, the uninsured foreign (other state) bank
is deemed to establish and maintain the office as a facility.
3863. (a) No uninsured foreign (other state) bank may establish or
maintain a facility unless the commissioner has first approved the
establishment of the office and issued a license authorizing the bank
to maintain the office.
(b) If the commissioner finds all the following with respect to an
application by an uninsured foreign (other state) bank for approval
to establish a facility, the commissioner shall approve the
application:
(1) The bank, any controlling person of the bank, the directors
and executive officers of the bank or of any controlling person of
the bank, and the proposed management of the office are each of good
character and sound financial standing.
(2) The financial history and condition of the bank are
satisfactory.
(3) The management of the bank and the proposed management of the
office are adequate.
(4) It is reasonable to believe that, if licensed to maintain the
office, the bank will operate the office in compliance with all
applicable laws, regulations, and orders.
(5) The bank's establishment and maintenance of the office will
promote the public convenience and advantage.
(6) The activities in which the bank proposes to engage at the
office are noncore banking business and do not constitute core
banking business.
If the commissioner finds otherwise, the commissioner shall deny
the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to establish a facility has been approved and all
conditions precedent to the issuance of a license authorizing the
bank to maintain the office have been fulfilled, the commissioner
shall issue the license.
3864. (a) No uninsured foreign (other state) bank that is licensed
to maintain a facility may relocate the office unless the
commissioner has first approved the relocation and issued a license
authorizing the bank to maintain the office at the new site.
(b) If the commissioner finds the following with respect to an
application by an uninsured foreign (other state) bank for approval
to relocate a facility, the commissioner shall approve the
application:
(1) In case the new site of the office is in the same vicinity as
the old site, that the relocation of the office will not be
substantially detrimental to the public convenience.
(2) In case the new site of the office is not in the same vicinity
as the old site, both of the following:
(A) The relocation of the office from the old site will not be
substantially detrimental to the public convenience and advantage in
the area that is primarily served by the office at the old site.
(B) The relocation of the office to the new site will promote the
public convenience and advantage.
If the commissioner finds otherwise, the commissioner shall deny
the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to relocate a facility has been approved and all
conditions precedent to the issuance of a license authorizing the
bank to maintain the office at the new site have been fulfilled, the
commissioner shall issue the license.
(d) Promptly after an uninsured foreign (other state) bank that is
licensed to maintain a facility relocates the office, the bank shall
surrender to the commissioner the license that authorized it to
maintain the office at the old site.
3865. An uninsured foreign (other state) bank that is licensed to
maintain a facility may, subject to any regulations that the
commissioner may prescribe, engage in any noncore banking business at
the office but may not solicit deposits, receive deposits, pay
checks, make loans, or otherwise conduct core banking business at the
office.
3866. (a) (1) No uninsured foreign (other state) bank that is
licensed to maintain a facility may close the office unless the
commissioner has first approved the closing.
(2) Paragraph (1) does not prohibit an uninsured foreign (other
state) bank that is licensed to maintain a facility from closing the
office in accordance with Section 3867.
(b) If the commissioner finds, with respect to an application by
an uninsured foreign (other state) bank for approval to close a
facility, that the closing of the office will not be substantially
detrimental to the public convenience and advantage, the commissioner
shall approve the application. If the commissioner finds otherwise,
the commissioner shall deny the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to close a facility has been approved and all
conditions precedent to the closing have been fulfilled, the bank may
close the office and shall promptly thereafter surrender to the
commissioner the license that authorized it to maintain the office.
3867. (a) Any uninsured foreign (other state) bank that holds a
license to maintain a facility may voluntarily surrender the license
by filing the license and a report with the commissioner. However,
any uninsured foreign (other state) bank that holds licenses to
maintain two or more facilities may not voluntarily surrender fewer
than all of the licenses.
(b) (1) Except as provided in paragraph (2), a voluntary surrender
of a license is effective on the 30th day after the license and the
report called for in subdivision (a) are filed with the commissioner,
or on any earlier date that the commissioner may by order specify.
(2) If a proceeding to revoke or suspend a license is pending when
the license and the report called for in subdivision (a) are filed
with the commissioner, or if a proceeding to revoke or suspend a
license or to impose conditions upon the surrender of a license is
instituted before the 30th day after the license and the report
called for in subdivision (a) are filed with the commissioner, the
voluntary surrender of the license is effective at the time and upon
the conditions that the commissioner may by order specify.
3868. (a) (1) No uninsured foreign (other state) bank may be issued
a license to maintain a facility unless it has first filed with the
commissioner, in the form that the commissioner may by regulation or
order require, an appointment irrevocably appointing the commissioner
and the commissioner's successor from time to time in office as the
bank's attorney to receive service of process in any noncriminal
judicial or administrative proceeding against the bank or any of its
successors that arises out of the activities in this state of the
facility after the appointment has been filed, with the same force
and validity as if served personally on the bank or its successors,
as the case may be.
(2) Any uninsured foreign (other state) bank that maintains a
facility and that has not filed with the commissioner an appointment
pursuant to paragraph (1) is deemed by the maintenance of the
facility to have appointed the commissioner and the commissioner's
successor from time to time in office as its attorney to receive
service of any lawful process in a noncriminal judicial or
administrative proceeding against the bank or any of its successors
that arises out of the activities in this state of the facility with
the same force and validity as if served personally on the bank or
its successors, as the case may be.
(b) Service may be made on an uninsured foreign (other state) bank
that has appointed or is deemed to have appointed the commissioner
as its attorney for service of process by leaving a copy of the
process at an office of the commissioner. However, the service is not
effective unless (1) the party making the service, who may be the
commissioner, forthwith sends notice of the service and a copy of the
process by registered or certified mail to the bank served at the
last address on file with the commissioner for any of its offices in
this state or at its head office, and (2) an affidavit of compliance
with this subdivision by the party making the service is filed in the
case on or before the return date, if any, or within any further
time that the court, in the case of a judicial proceeding, or the
administrative agency, in the case of an administrative proceeding,
allows.
3869. Each uninsured foreign (other state) bank that is licensed to
maintain a facility shall assign to the office a popular name that
includes the term "facility" and that consists of a specific
designation by name or number. The bank shall post the popular name
and the name of the bank in a conspicuous place at the office.
3870. Each uninsured foreign (other state) bank that is licensed to
maintain a facility shall post its license in a conspicuous place at
the office.
3871. No license is transferable or assignable.
3860. In this article, unless the context otherwise requires:
(a) "Controlling person," when used with respect to an uninsured
foreign (other state) bank, means any person who directly or
indirectly controls the bank. For purposes of this subdivision,
"control" has the meaning set forth in subdivision (b) of Section
700, and "person" has the meaning set forth in subdivision (d) of
Section 700.
(b) "Executive officer," when used with respect to an uninsured
foreign (other state) bank or a controlling person of an uninsured
foreign (other state) bank, means the chief executive officer, the
chief operating officer, the chief financial officer, and any other
person who participates or has authority to participate in major
policymaking functions of the bank or controlling person.
(c) (1) "License" means a license issued under this article,
authorizing an uninsured foreign (other state) bank to maintain a
facility.
(2) "Licensed" means to be issued or to hold a license.
3861. (a) In this section, "act" includes (without limitation)
omission.
(b) For purposes of making findings on an application by an
uninsured foreign (other state) bank for approval to establish a
facility:
(1) The commissioner may, in the absence of credible evidence to
the contrary, presume that the directors, executive officers, and any
controlling person of the bank, the directors and executive officers
of any controlling person of the bank, and the members of the
proposed management of the facility are each of good character and
sound financial standing.
(2) The commissioner may find that the bank, a director, executive
officer, or controlling person of the bank, a director or executive
officer of a controlling person of the bank, or any member of the
proposed management of the facility is not of good character if the
person has done any of the following:
(A) Has been convicted of, or has pleaded nolo contendere to, any
crime involving an act of fraud or dishonesty.
(B) Has consented to or suffered a judgment in any civil action
based upon conduct involving an act of fraud or dishonesty.
(C) Has consented to or suffered the suspension or revocation of
any professional, occupational, or vocational license based upon
conduct involving an act of fraud or dishonesty.
(D) Has willfully made or caused to be made in any application or
report filed with the commissioner or in any proceeding before the
commissioner any statement that was at the time and in the light of
the circumstances under which it was made false or misleading with
respect to any material fact, or has willfully omitted to state in
any such application or report any material fact that was required to
be stated in the application or report.
(E) Has willfully committed any violation of, or has willfully
aided, abetted, counseled, commanded, induced, or procured the
violation by any other person of, any provision of this division or
of any regulation or order issued under this division.
(c) Paragraph (2) of subdivision (b) is not an exclusive list of
the grounds upon which the commissioner may find, for purposes of
making findings on an application by an uninsured foreign (other
state) bank for approval to establish a facility, that the bank, a
director, executive officer, or controlling person of the bank, a
director or executive officer of a controlling person of the bank, or
any member of the proposed management of the facility is not of good
character.
3862. (a) No uninsured foreign (other state) bank may establish or
maintain an office in this state at which it engages in noncore
banking business unless the uninsured foreign (other state) bank is
licensed to maintain the office as a facility.
(b) (1) No person may establish or maintain an office in this
state as representative of an uninsured foreign (other state) bank
unless the uninsured foreign (other state) bank is licensed to
maintain the office as a facility.
(2) For purposes of this article, if any person establishes or
maintains an office in this state as representative of an uninsured
foreign (other state) bank, the uninsured foreign (other state) bank
is deemed to establish and maintain the office as a facility.
3863. (a) No uninsured foreign (other state) bank may establish or
maintain a facility unless the commissioner has first approved the
establishment of the office and issued a license authorizing the bank
to maintain the office.
(b) If the commissioner finds all the following with respect to an
application by an uninsured foreign (other state) bank for approval
to establish a facility, the commissioner shall approve the
application:
(1) The bank, any controlling person of the bank, the directors
and executive officers of the bank or of any controlling person of
the bank, and the proposed management of the office are each of good
character and sound financial standing.
(2) The financial history and condition of the bank are
satisfactory.
(3) The management of the bank and the proposed management of the
office are adequate.
(4) It is reasonable to believe that, if licensed to maintain the
office, the bank will operate the office in compliance with all
applicable laws, regulations, and orders.
(5) The bank's establishment and maintenance of the office will
promote the public convenience and advantage.
(6) The activities in which the bank proposes to engage at the
office are noncore banking business and do not constitute core
banking business.
If the commissioner finds otherwise, the commissioner shall deny
the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to establish a facility has been approved and all
conditions precedent to the issuance of a license authorizing the
bank to maintain the office have been fulfilled, the commissioner
shall issue the license.
3864. (a) No uninsured foreign (other state) bank that is licensed
to maintain a facility may relocate the office unless the
commissioner has first approved the relocation and issued a license
authorizing the bank to maintain the office at the new site.
(b) If the commissioner finds the following with respect to an
application by an uninsured foreign (other state) bank for approval
to relocate a facility, the commissioner shall approve the
application:
(1) In case the new site of the office is in the same vicinity as
the old site, that the relocation of the office will not be
substantially detrimental to the public convenience.
(2) In case the new site of the office is not in the same vicinity
as the old site, both of the following:
(A) The relocation of the office from the old site will not be
substantially detrimental to the public convenience and advantage in
the area that is primarily served by the office at the old site.
(B) The relocation of the office to the new site will promote the
public convenience and advantage.
If the commissioner finds otherwise, the commissioner shall deny
the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to relocate a facility has been approved and all
conditions precedent to the issuance of a license authorizing the
bank to maintain the office at the new site have been fulfilled, the
commissioner shall issue the license.
(d) Promptly after an uninsured foreign (other state) bank that is
licensed to maintain a facility relocates the office, the bank shall
surrender to the commissioner the license that authorized it to
maintain the office at the old site.
3865. An uninsured foreign (other state) bank that is licensed to
maintain a facility may, subject to any regulations that the
commissioner may prescribe, engage in any noncore banking business at
the office but may not solicit deposits, receive deposits, pay
checks, make loans, or otherwise conduct core banking business at the
office.
3866. (a) (1) No uninsured foreign (other state) bank that is
licensed to maintain a facility may close the office unless the
commissioner has first approved the closing.
(2) Paragraph (1) does not prohibit an uninsured foreign (other
state) bank that is licensed to maintain a facility from closing the
office in accordance with Section 3867.
(b) If the commissioner finds, with respect to an application by
an uninsured foreign (other state) bank for approval to close a
facility, that the closing of the office will not be substantially
detrimental to the public convenience and advantage, the commissioner
shall approve the application. If the commissioner finds otherwise,
the commissioner shall deny the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to close a facility has been approved and all
conditions precedent to the closing have been fulfilled, the bank may
close the office and shall promptly thereafter surrender to the
commissioner the license that authorized it to maintain the office.
3867. (a) Any uninsured foreign (other state) bank that holds a
license to maintain a facility may voluntarily surrender the license
by filing the license and a report with the commissioner. However,
any uninsured foreign (other state) bank that holds licenses to
maintain two or more facilities may not voluntarily surrender fewer
than all of the licenses.
(b) (1) Except as provided in paragraph (2), a voluntary surrender
of a license is effective on the 30th day after the license and the
report called for in subdivision (a) are filed with the commissioner,
or on any earlier date that the commissioner may by order specify.
(2) If a proceeding to revoke or suspend a license is pending when
the license and the report called for in subdivision (a) are filed
with the commissioner, or if a proceeding to revoke or suspend a
license or to impose conditions upon the surrender of a license is
instituted before the 30th day after the license and the report
called for in subdivision (a) are filed with the commissioner, the
voluntary surrender of the license is effective at the time and upon
the conditions that the commissioner may by order specify.
3868. (a) (1) No uninsured foreign (other state) bank may be issued
a license to maintain a facility unless it has first filed with the
commissioner, in the form that the commissioner may by regulation or
order require, an appointment irrevocably appointing the commissioner
and the commissioner's successor from time to time in office as the
bank's attorney to receive service of process in any noncriminal
judicial or administrative proceeding against the bank or any of its
successors that arises out of the activities in this state of the
facility after the appointment has been filed, with the same force
and validity as if served personally on the bank or its successors,
as the case may be.
(2) Any uninsured foreign (other state) bank that maintains a
facility and that has not filed with the commissioner an appointment
pursuant to paragraph (1) is deemed by the maintenance of the
facility to have appointed the commissioner and the commissioner's
successor from time to time in office as its attorney to receive
service of any lawful process in a noncriminal judicial or
administrative proceeding against the bank or any of its successors
that arises out of the activities in this state of the facility with
the same force and validity as if served personally on the bank or
its successors, as the case may be.
(b) Service may be made on an uninsured foreign (other state) bank
that has appointed or is deemed to have appointed the commissioner
as its attorney for service of process by leaving a copy of the
process at an office of the commissioner. However, the service is not
effective unless (1) the party making the service, who may be the
commissioner, forthwith sends notice of the service and a copy of the
process by registered or certified mail to the bank served at the
last address on file with the commissioner for any of its offices in
this state or at its head office, and (2) an affidavit of compliance
with this subdivision by the party making the service is filed in the
case on or before the return date, if any, or within any further
time that the court, in the case of a judicial proceeding, or the
administrative agency, in the case of an administrative proceeding,
allows.
3869. Each uninsured foreign (other state) bank that is licensed to
maintain a facility shall assign to the office a popular name that
includes the term "facility" and that consists of a specific
designation by name or number. The bank shall post the popular name
and the name of the bank in a conspicuous place at the office.
3870. Each uninsured foreign (other state) bank that is licensed to
maintain a facility shall post its license in a conspicuous place at
the office.
3871. No license is transferable or assignable.
3860. In this article, unless the context otherwise requires:
(a) "Controlling person," when used with respect to an uninsured
foreign (other state) bank, means any person who directly or
indirectly controls the bank. For purposes of this subdivision,
"control" has the meaning set forth in subdivision (b) of Section
700, and "person" has the meaning set forth in subdivision (d) of
Section 700.
(b) "Executive officer," when used with respect to an uninsured
foreign (other state) bank or a controlling person of an uninsured
foreign (other state) bank, means the chief executive officer, the
chief operating officer, the chief financial officer, and any other
person who participates or has authority to participate in major
policymaking functions of the bank or controlling person.
(c) (1) "License" means a license issued under this article,
authorizing an uninsured foreign (other state) bank to maintain a
facility.
(2) "Licensed" means to be issued or to hold a license.
3861. (a) In this section, "act" includes (without limitation)
omission.
(b) For purposes of making findings on an application by an
uninsured foreign (other state) bank for approval to establish a
facility:
(1) The commissioner may, in the absence of credible evidence to
the contrary, presume that the directors, executive officers, and any
controlling person of the bank, the directors and executive officers
of any controlling person of the bank, and the members of the
proposed management of the facility are each of good character and
sound financial standing.
(2) The commissioner may find that the bank, a director, executive
officer, or controlling person of the bank, a director or executive
officer of a controlling person of the bank, or any member of the
proposed management of the facility is not of good character if the
person has done any of the following:
(A) Has been convicted of, or has pleaded nolo contendere to, any
crime involving an act of fraud or dishonesty.
(B) Has consented to or suffered a judgment in any civil action
based upon conduct involving an act of fraud or dishonesty.
(C) Has consented to or suffered the suspension or revocation of
any professional, occupational, or vocational license based upon
conduct involving an act of fraud or dishonesty.
(D) Has willfully made or caused to be made in any application or
report filed with the commissioner or in any proceeding before the
commissioner any statement that was at the time and in the light of
the circumstances under which it was made false or misleading with
respect to any material fact, or has willfully omitted to state in
any such application or report any material fact that was required to
be stated in the application or report.
(E) Has willfully committed any violation of, or has willfully
aided, abetted, counseled, commanded, induced, or procured the
violation by any other person of, any provision of this division or
of any regulation or order issued under this division.
(c) Paragraph (2) of subdivision (b) is not an exclusive list of
the grounds upon which the commissioner may find, for purposes of
making findings on an application by an uninsured foreign (other
state) bank for approval to establish a facility, that the bank, a
director, executive officer, or controlling person of the bank, a
director or executive officer of a controlling person of the bank, or
any member of the proposed management of the facility is not of good
character.
3862. (a) No uninsured foreign (other state) bank may establish or
maintain an office in this state at which it engages in noncore
banking business unless the uninsured foreign (other state) bank is
licensed to maintain the office as a facility.
(b) (1) No person may establish or maintain an office in this
state as representative of an uninsured foreign (other state) bank
unless the uninsured foreign (other state) bank is licensed to
maintain the office as a facility.
(2) For purposes of this article, if any person establishes or
maintains an office in this state as representative of an uninsured
foreign (other state) bank, the uninsured foreign (other state) bank
is deemed to establish and maintain the office as a facility.
3863. (a) No uninsured foreign (other state) bank may establish or
maintain a facility unless the commissioner has first approved the
establishment of the office and issued a license authorizing the bank
to maintain the office.
(b) If the commissioner finds all the following with respect to an
application by an uninsured foreign (other state) bank for approval
to establish a facility, the commissioner shall approve the
application:
(1) The bank, any controlling person of the bank, the directors
and executive officers of the bank or of any controlling person of
the bank, and the proposed management of the office are each of good
character and sound financial standing.
(2) The financial history and condition of the bank are
satisfactory.
(3) The management of the bank and the proposed management of the
office are adequate.
(4) It is reasonable to believe that, if licensed to maintain the
office, the bank will operate the office in compliance with all
applicable laws, regulations, and orders.
(5) The bank's establishment and maintenance of the office will
promote the public convenience and advantage.
(6) The activities in which the bank proposes to engage at the
office are noncore banking business and do not constitute core
banking business.
If the commissioner finds otherwise, the commissioner shall deny
the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to establish a facility has been approved and all
conditions precedent to the issuance of a license authorizing the
bank to maintain the office have been fulfilled, the commissioner
shall issue the license.
3864. (a) No uninsured foreign (other state) bank that is licensed
to maintain a facility may relocate the office unless the
commissioner has first approved the relocation and issued a license
authorizing the bank to maintain the office at the new site.
(b) If the commissioner finds the following with respect to an
application by an uninsured foreign (other state) bank for approval
to relocate a facility, the commissioner shall approve the
application:
(1) In case the new site of the office is in the same vicinity as
the old site, that the relocation of the office will not be
substantially detrimental to the public convenience.
(2) In case the new site of the office is not in the same vicinity
as the old site, both of the following:
(A) The relocation of the office from the old site will not be
substantially detrimental to the public convenience and advantage in
the area that is primarily served by the office at the old site.
(B) The relocation of the office to the new site will promote the
public convenience and advantage.
If the commissioner finds otherwise, the commissioner shall deny
the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to relocate a facility has been approved and all
conditions precedent to the issuance of a license authorizing the
bank to maintain the office at the new site have been fulfilled, the
commissioner shall issue the license.
(d) Promptly after an uninsured foreign (other state) bank that is
licensed to maintain a facility relocates the office, the bank shall
surrender to the commissioner the license that authorized it to
maintain the office at the old site.
3865. An uninsured foreign (other state) bank that is licensed to
maintain a facility may, subject to any regulations that the
commissioner may prescribe, engage in any noncore banking business at
the office but may not solicit deposits, receive deposits, pay
checks, make loans, or otherwise conduct core banking business at the
office.
3866. (a) (1) No uninsured foreign (other state) bank that is
licensed to maintain a facility may close the office unless the
commissioner has first approved the closing.
(2) Paragraph (1) does not prohibit an uninsured foreign (other
state) bank that is licensed to maintain a facility from closing the
office in accordance with Section 3867.
(b) If the commissioner finds, with respect to an application by
an uninsured foreign (other state) bank for approval to close a
facility, that the closing of the office will not be substantially
detrimental to the public convenience and advantage, the commissioner
shall approve the application. If the commissioner finds otherwise,
the commissioner shall deny the application.
(c) Whenever an application by an uninsured foreign (other state)
bank for approval to close a facility has been approved and all
conditions precedent to the closing have been fulfilled, the bank may
close the office and shall promptly thereafter surrender to the
commissioner the license that authorized it to maintain the office.
3867. (a) Any uninsured foreign (other state) bank that holds a
license to maintain a facility may voluntarily surrender the license
by filing the license and a report with the commissioner. However,
any uninsured foreign (other state) bank that holds licenses to
maintain two or more facilities may not voluntarily surrender fewer
than all of the licenses.
(b) (1) Except as provided in paragraph (2), a voluntary surrender
of a license is effective on the 30th day after the license and the
report called for in subdivision (a) are filed with the commissioner,
or on any earlier date that the commissioner may by order specify.
(2) If a proceeding to revoke or suspend a license is pending when
the license and the report called for in subdivision (a) are filed
with the commissioner, or if a proceeding to revoke or suspend a
license or to impose conditions upon the surrender of a license is
instituted before the 30th day after the license and the report
called for in subdivision (a) are filed with the commissioner, the
voluntary surrender of the license is effective at the time and upon
the conditions that the commissioner may by order specify.
3868. (a) (1) No uninsured foreign (other state) bank may be issued
a license to maintain a facility unless it has first filed with the
commissioner, in the form that the commissioner may by regulation or
order require, an appointment irrevocably appointing the commissioner
and the commissioner's successor from time to time in office as the
bank's attorney to receive service of process in any noncriminal
judicial or administrative proceeding against the bank or any of its
successors that arises out of the activities in this state of the
facility after the appointment has been filed, with the same force
and validity as if served personally on the bank or its successors,
as the case may be.
(2) Any uninsured foreign (other state) bank that maintains a
facility and that has not filed with the commissioner an appointment
pursuant to paragraph (1) is deemed by the maintenance of the
facility to have appointed the commissioner and the commissioner's
successor from time to time in office as its attorney to receive
service of any lawful process in a noncriminal judicial or
administrative proceeding against the bank or any of its successors
that arises out of the activities in this state of the facility with
the same force and validity as if served personally on the bank or
its successors, as the case may be.
(b) Service may be made on an uninsured foreign (other state) bank
that has appointed or is deemed to have appointed the commissioner
as its attorney for service of process by leaving a copy of the
process at an office of the commissioner. However, the service is not
effective unless (1) the party making the service, who may be the
commissioner, forthwith sends notice of the service and a copy of the
process by registered or certified mail to the bank served at the
last address on file with the commissioner for any of its offices in
this state or at its head office, and (2) an affidavit of compliance
with this subdivision by the party making the service is filed in the
case on or before the return date, if any, or within any further
time that the court, in the case of a judicial proceeding, or the
administrative agency, in the case of an administrative proceeding,
allows.
3869. Each uninsured foreign (other state) bank that is licensed to
maintain a facility shall assign to the office a popular name that
includes the term "facility" and that consists of a specific
designation by name or number. The bank shall post the popular name
and the name of the bank in a conspicuous place at the office.
3870. Each uninsured foreign (other state) bank that is licensed to
maintain a facility shall post its license in a conspicuous place at
the office.
3871. No license is transferable or assignable.
