State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-232_8

§53‑232.8.  Application for license.

(a)        Every internationalbanking corporation, before being licensed by the Commissioner to transact abanking business in this State as an international bank branch or as aninternational bank agency or before maintaining in this State any office tocarry on a banking business or any part of a banking business, shall subscribeand acknowledge and submit to the Commissioner, at the Commissioner's office, aseparate application, in duplicate, which shall state:

(1)        The name of theinternational banking corporation;

(2)        The location bystreet and post office address and county where its business is to betransacted in this State and the name of the person who is in charge of thebusiness and affairs of the office;

(3)        The location whereits initial registered office will be located in this State;

(4)        The amount of itscapital actually paid in and the amount subscribed for and unpaid; and

(5)        The actual value ofthe assets of the international banking corporation, which must be at leastfifty million dollars ($50,000,000) in excess of its liabilities, and acomplete and detailed statement of its financial condition as of a date within60 days before the date of the application; except that the Commissioner may,when necessary or expedient, accept the statement of financial condition as ofa date within 120 days before the date of the application.

(b)        When theapplication is submitted to the Commissioner, the corporation shall also submita duly authenticated copy of its Articles of Incorporation, or equivalentcorporate document, and an authenticated copy of its bylaws, or an equivalentof the bylaws that is satisfactory to the Commissioner, and pay aninvestigation and supervision fee to be established by regulation.  The internationalbanking corporation shall also submit to the Commissioner a certificate issuedby the banking or supervisory authority of the country in which theinternational banking corporation is organized and licensed stating that theinternational banking corporation is duly organized and licensed and lawfullyexisting in good standing, and is empowered to conduct a general bankingbusiness.

(c)        The Commissionermay approve or disapprove the application, but the Commissioner shall notapprove the application unless, in the Commissioner's opinion, the applicantmeets every requirement of this Article and any other applicable provision ofthis Chapter and any regulations adopted under this Chapter.  The Commissionermay specify any conditions as the Commissioner deems appropriate, consideringthe public interest, the need to maintain a sound and competitive bankingsystem, and the preservation of an environment conducive to the conduct of aninternational banking business in this State.

(d)        An internationalbanking corporation may operate more than one international bank branch in thisState, each at a different place of business, provided each branch office isseparately licensed to transact a banking business or any part of a bankingbusiness under this Article.  An international banking corporation may operatemore than one international bank agency in this State, each at a differentplace of business, provided each agency office is separately licensed totransact a banking business or any part of a banking business under thisArticle.

(e)        Notwithstandingsubsection (d) of this section, no international banking corporation licensedto maintain one or more international bank branches in this State shall belicensed to maintain an international bank agency in this State except upontermination of the operation of its international bank branches under G.S. 53‑232.13(b),and no international banking corporation licensed to maintain one or moreinternational bank agencies in this State shall be licensed to maintain an internationalbank branch in this State except upon the termination of the operation of itsinternational bank agencies under G.S. 53‑232.13(b). (1991,c. 679, s. 1.)