9-1127d.   Same; services performed for bank or subsidiary or affiliate;regulation and examination by commissioner; rules and regulations.(a) Whenever a bank, or any subsidiary or affiliate of suchbank that is subject to examination by the state bank commissioner, causesto be performed for itself, by contract or otherwise, any services authorizedunder this act on or off its premises:

      (1)   Such performance shall be subject to regulation and examination bythe state bank commissioner to the same extent as if such services werebeing performed by the bank itself on its own premises; and

      (2)   the bank shall notify the state bank commissioner of the existenceof the service relationship within 30 days after the making of such servicecontract or the performance of the service, whichever occurs first.

      (b)   The state bank commissioner, with the approval of thestate banking board, is authorized to adopt such rules andregulations as may be necessary to administer and carryout the purpose of this act and to prevent evasions thereof.

      History:   L. 1984, ch. 48, § 9;L. 2001, ch. 87, § 11; July 1.