§412:5A-200 - Scope and definitions.

PART II. APPLICATION PROCEDURES AND POWERS

Note

  Part heading amended by L 1996, c 155, §4.

§412:5A-200  Scope and definitions. (a)  As used in this chapter an "international banking corporation"means a corporation which has authority to operate as an international bankingcorporation under this part and has been required to use the term"international banking corporation," or such other term approved bythe commissioner and containing the word "international,""foreign," "overseas," or some similar word as part of itsname.  The term "international banking corporation" also includes aperson that was organized and operating under chapter 405 prior to theenactment of this chapter.

(b)  The existence, charters, licenses, andcertificates of authority of international banking corporations formed orexisting on July 1, 1993, are not affected by the enactment of thischapter nor by any change made thereby in the requirements for the formation ofinternational banking corporations, nor by the amendment or repeal thereby ofthe laws under which they were formed, created, chartered, licensed orcertified.

(c)  Except to the extent specifically providedin this chapter, the power and authority of international banking corporationsexisting on July 1, 1993, shall not be limited or restricted in any way bythe enactment of this chapter nor by the amendment or repeal of the laws underwhich they were formed or created, or which granted such power and authority.[L 1993, c 350, pt of §1]

Revision Note

  "July 1, 1993," substituted for "theeffective date of this chapter".

Cross References

  International banking facilities, see §412:5‑206.