Financial Code - FIN - FIN § 1750

Summary

In this chapter, unless the context otherwise requires: (a) “Agency” means a depositary agency or a nondepositary agency. (b) “Branch office” means a limited branch office, a retail branch office, or a wholesale branch office. (c) “Business in this state,” when used with respect

Text

In this chapter, unless the context otherwise requires:
(a)
“Agency” means a depositary agency or a nondepositary agency.
(b)
“Branch office” means a limited branch office, a retail branch office, or a wholesale branch office.
(c)
“Business in this state,” when used with respect to a foreign
(other nation) bank which is licensed to maintain one or more agencies or branch offices, includes (without limitation) the aggregate business of all the offices.
(d)
“Controlling person,” when used with respect to a foreign (other nation) bank, means any person who, directly or indirectly, controls the bank. For purposes of this subdivision, “control” has the meaning set forth in subdivision (b) of Section 1250, and “person” has the meaning set forth in subdivision (d) of Section 1250.
(e)
“Depositary agency,” when used with respect to a foreign (other nation) bank, means a place in this state at which the bank transacts commercial banking business but at which it does not transact the business of receiving deposits, except as permitted under paragraph (2) of subdivision (a) of Section 1805.
(f)
“Executive officer,”
when used with respect to a foreign (other nation) bank or a controlling person of a foreign (other nation) bank, means the chief executive officer, the chief operating officer, the chief financial officer, and any other person who participates or has authority to participate in major policymaking functions of the bank or controlling person. “Executive officer,” when used with respect to a foreign (other nation) bank, includes the head of the international division (or, if there is no such division, the closest equivalent division or unit) of such bank.
(g)
“Federal agency” has the meaning set forth in Section 1(b) of the International Banking Act of 1978.
(h)
“Federal branch” has the meaning set forth in Section 1(b) of the International Banking Act of 1978.
(i)
(1)
“License” means a license
issued under this chapter, authorizing a foreign bank to maintain an office.
(2)
To be “licensed” means to be issued or to hold a license.
(3)
To be “licensed to transact business in this state,” when used with respect to a foreign (other nation) bank, means that the bank is licensed to maintain an agency or branch office.
(j)
“Limited branch office,” when used with respect to a foreign (other nation) bank, means a place in this state at which the bank transacts commercial banking business but at which it does not transact the business of receiving deposits except as permitted under paragraph (3) of subdivision (a) of Section 1805.
(k)
“Nondepositary agency,” when used with respect to a foreign (other nation) bank, means a place in this state at which
the bank transacts commercial banking business, except the business of receiving deposits.
(
l
)
“Office,” when used with respect to a foreign (other nation) bank, means any agency, branch office, or representative office of the bank.
(m)
“Primary office,” when used with respect to a foreign (other nation) bank that is licensed to maintain a single agency or branch office, means the agency or branch office and, when used with respect to a foreign (other nation) bank that is licensed to maintain two or more agencies or branch offices, means that one of the offices which the bank has designated as its primary office in accordance with Section 1766.
(n)
“Representative office,” when used with respect to a foreign (other nation) bank, means an office in this state at which the bank engages in representational
functions but at which it does not transact commercial banking business.
(o)
“Retail branch office,” when used with respect to a foreign (other nation) bank, means a place in this state at which the bank transacts commercial banking business, including (without limitation) the business of receiving deposits.
(p)
“Wholesale branch office,” when used with respect to a foreign (other nation) bank, means a place in this state at which the bank transacts commercial banking business but at which it does not transact the business of receiving deposits except as permitted under paragraph (4) of subdivision (a) of Section 1805.

Retrieval chunks

• #1 | Financial Code - FIN - FIN § 1750

  In this chapter, unless the context otherwise requires: (a) “Agency” means a depositary agency or a nondepositary agency. (b) “Branch office” means a limited branch office, a retail branch office, or a wholesale branch office. (c) “Business in this state,” when used with respect to a foreign (other nation) bank…

• #2

  “Limited branch office,” when used with respect to a foreign (other nation) bank, means a place in this state at which the bank transacts commercial banking business but at which it does not transact the business of receiving deposits except as permitted under paragraph (3) of subdivision (a) of Section 1805. (k) “N…