(a) (1) With the prior approval of the Bank Commissioner, and subject to such conditions as may be prescribed by him or her, a state bank may engage in any activities which are a part of the business of banking or incidental thereto by means of an operating subsidiary and other activities permissible for state […]
(a) A state bank acting through an operating subsidiary or a bank holding company acting, directly or through a subsidiary, may, with the prior approval of the Bank Commissioner, engage in real estate investment and development, including without limitation: (1) Development of subdivisions or additions; (2) Construction of improvements; (3) Acquisition of stock or equity […]
(a) As used in this section, unless the context otherwise requires: (1) “Bank service company” means a corporation or limited liability company organized for the exclusive purpose of performing bank services for one (1) or more persons, which is owned by one (1) or more state banks and one (1) or more persons; and (2) […]
(a) As used in this section, the term “public welfare” means developing housing, fostering economic growth and revitalization, creating small businesses, including minority-owned businesses, and supporting other community development initiatives approved by the Bank Commissioner. (b) A state bank may make investments designed primarily to promote the public welfare, either directly or by purchasing interests […]
(a) A state bank may purchase up to one hundred percent (100%) of the capital stock of small business investment companies and minority enterprise small business investment companies as defined by the Small Business Investment Act of 1958. (b) However, in no event may any state bank acquire shares of any small business investment company […]
(a) Any state bank may purchase up to one hundred percent (100%) of the capital stock of any corporation organized and existing under the Edge Act, and any amendments thereto. (b) However, in no event may any state bank acquire shares of any such corporation if, upon the making of that acquisition, the aggregate amount […]
With prior notice to the Bank Commissioner and in accordance with the state and federal law, state banks are authorized to engage in activities through financial subsidiaries.
