§ 53-232. 6. Requirements for carrying on banking business.
AI-assisted research summary: International banking corporations may not do banking business in the State unless they meet specified filing, fee, and authorization requirements; the Commissioner may not issue a license unless the foreign country grants similar access to U.S. banks.
(a)No international banking corporation, other than a federal international bank institution, shall transact a banking business or maintain in this State any office for carrying on a banking business or any part of a banking business unless the corporation: (1)Is authorized by its Articles to carry on a banking business and has complied with the laws of the country under which it is chartered; (2)Has furnished to the Commissioner any proof as to the nature and character of its business and as to its financial condition as the Commissioner may require; (3)Has filed with the Commissioner: a.A duly executed instrument in writing, by its terms of indefinite duration and irrevocable, appointing the Commissioner its true and lawful attorney upon whom all process in any action against it may be served with the same force and effect as if it were a domestic corporation and had been lawfully served with process within the State; b.A written certificate of designation, which may be changed from time to time thereafter by the filing of a new certificate of designation, specifying the name and address of the officer, agent, or other person to whom the Commissioner shall forward the process; and c.A certified copy of that information required to be supplied by foreign corporations to the Secretary of State by Article 15 of Chapter 55 of the General Statutes. (4)Has paid to the Commissioner the fee established by regulation to defray the cost of investigation and supervision; and (5)Has received a license duly issued to it by the Commissioner. (b)The Commissioner shall not issue a license to an international banking corporation unless it is chartered in a foreign country that permits banks chartered in the United States or any of its states to establish similar facilities in that country. History: History.1991, c. 679, s. 1.