Section 12-207 – Offices Restricted; Exemption
(a) Except as provided in subsection (b) of this section, a foreign banking corporation may not have an office in this State for any purpose unless: (1) The foreign banking corporation obtains from the Commissioner a permit for the office; or (2) The office is authorized under: (i) The Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994 or […]
Section 12-208 – Applications for Permits
(a) To apply for a permit for an office, a foreign banking corporation shall submit to the Commissioner an application on the form that the Commissioner requires. (b) The application shall state: (1) The location of each proposed office; (2) A specific description of the proposed operations; and (3) The services to be performed for the public.
Section 12-209 – Issuance of Permit
On application for a permit, the Commissioner shall issue the permit, if the Commissioner determines that the establishment and operations of the proposed office will not violate any law of this State that applies to banks and banking.
Section 12-210 – Term and Renewal of Permit
(a) A permit expires on the third anniversary of its effective date, unless the permit is renewed for a 3–year term as provided in this section. (b) Before its permit expires, the foreign banking corporation may renew the permit for additional 3–year terms if the foreign banking corporation: (1) At least 30 days before its permit expires submits […]
Section 12-211 – Power to Set Fees
The Commissioner shall set the application and renewal fees in amounts that reasonably relate to the cost of processing the applications.