State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-232_3

§53‑232.3.  Authority to establish and operate federal international bankinstitutions, international bank branches, international bank agencies, andinternational representative offices.

(a)        An internationalbanking corporation with a home state other than North Carolina may establishand operate, directly or indirectly, a federal international bank institutionin this State in accordance with applicable federal law.

(b)        An internationalbanking corporation with no home state may establish and operate, directly orindirectly, a federal international bank institution in this State inaccordance with applicable federal law.

(c)        An internationalbanking corporation with a home state other than North Carolina may establishand operate, directly or indirectly, an international bank branch, aninternational bank agency, or an international representative office inaccordance with this Article and applicable federal law.

(d)        An internationalbanking corporation with no home state may establish and operate, directly orindirectly, an international bank branch, an international bank agency, or aninternational representative office in accordance with this Article andapplicable federal law.

(e)        For the purposes ofthis section, the home state of an international banking corporation that hasbranches, agencies, subsidiary commercial lending companies, or subsidiarybanks, or any combination of branches, agencies, subsidiary commercial lendingcompanies, or subsidiary banks in more than one state is whichever of the statesis so elected by the international banking corporation.  If the internationalbanking corporation does not elect a home state, the Board of Governors of theFederal Reserve System or the Commissioner, as applicable, shall elect the homestate. (1991, c. 679, s. 1.)