State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-232_2

§53‑232.2.  Definitions.

(a)        The followingdefinitions apply in this Article:

(1)        Commissioner. – TheNorth Carolina Commissioner of Banks.

(2)        Federalinternational bank institution. – A branch, agency, or representative office ofan international banking corporation established and operating under thefederal International Banking Act of 1978, 12 U.S.C. §§ 3101 et seq., asamended, and its regulations.

(3)        Foreign country. – Acountry other than the United States, but including a territory or possession ofthe United States.

(4)        International bankagency. – A business or any part of a banking business conducted in this Stateor through an office located in this State, other than a federal internationalbank institution, which exercises powers as set forth in G.S. 53‑232.9(f)on behalf of an international banking corporation.

(5)        International bankbranch. – A business or any part of a banking business conducted in this Stateor through an office located in this State, other than a federal internationalbank institution, which exercises powers as set forth in G.S. 53‑232.9(e)on behalf of an international banking corporation.

(6)        Internationalbanking corporation. – A banking corporation organized and licensed under thelaws of a foreign country or a political subdivision of a foreign country.

(7)        Internationalrepresentative office. – A business location of a representative of aninternational banking corporation, other than a federal international bankinstitution, established to act in a liaison capacity with existing andpotential customers of the international banking corporation and to generatenew loans and other activities for the international banking corporation thatis operating outside the State.

(b)        Legal and financialterms used in this Article refer to equivalent terms used by the country inwhich the international banking corporation is organized. (1991,c. 679, s. 1.)