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 such
bank that is subject to examination by the state bank commissioner, causes
to be performed for itself, by contract or otherwise, any services authorized
under this act on or off its premises:
(1) Such performance shall be subject to regulation and examination by
the state bank commissioner to the same extent as if such services were
being performed by the bank itself on its own premises; and
(2) the bank shall notify the state bank commissioner of the existence
of the service relationship within 30 days after the making of such service
contract or the performance of the service, whichever occurs first.
(b) The state bank commissioner, with the approval of the
state banking board, is authorized to adopt such rules and
regulations as may be necessary to administer and carry
out the purpose of this act and to prevent evasions thereof.
History: L. 1984, ch. 48, § 9;
L. 2001, ch. 87, § 11; July 1.
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 such
bank that is subject to examination by the state bank commissioner, causes
to be performed for itself, by contract or otherwise, any services authorized
under this act on or off its premises:
(1) Such performance shall be subject to regulation and examination by
the state bank commissioner to the same extent as if such services were
being performed by the bank itself on its own premises; and
(2) the bank shall notify the state bank commissioner of the existence
of the service relationship within 30 days after the making of such service
contract or the performance of the service, whichever occurs first.
(b) The state bank commissioner, with the approval of the
state banking board, is authorized to adopt such rules and
regulations as may be necessary to administer and carry
out the purpose of this act and to prevent evasions thereof.
History: L. 1984, ch. 48, § 9;
L. 2001, ch. 87, § 11; July 1.
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 such
bank that is subject to examination by the state bank commissioner, causes
to be performed for itself, by contract or otherwise, any services authorized
under this act on or off its premises:
(1) Such performance shall be subject to regulation and examination by
the state bank commissioner to the same extent as if such services were
being performed by the bank itself on its own premises; and
(2) the bank shall notify the state bank commissioner of the existence
of the service relationship within 30 days after the making of such service
contract or the performance of the service, whichever occurs first.
(b) The state bank commissioner, with the approval of the
state banking board, is authorized to adopt such rules and
regulations as may be necessary to administer and carry
out the purpose of this act and to prevent evasions thereof.
History: L. 1984, ch. 48, § 9;
L. 2001, ch. 87, § 11; July 1.