(1) A banking institution may exercise the same powers and engage in the same activities at a branch or branches located in states outside this state as are permitted the banking institution within this state.
(2) A banking institution may exercise the same powers and engage in the same activities at a branch or branches located in foreign countries and dependencies or insular possessions of the United States as are permitted the banking institution within this state and in addition may exercise such additional powers as are permitted to such branches under 12 C.F.R. 211.3(b), 12 C.F.R. 347.3(c) and other applicable federal law. This subsection shall not be construed to permit a banking institution that opens, occupies or maintains one or more branches in a foreign country or dependency or insular possession of the United States to use the branch or branches or engage in any activities within this state that are not permitted to the banking institution under the laws of this state. [1997 c.631 §320]
Section: Previous 714.050 714.054 714.055 714.059 714.060 714.064 714.065 714.069 714.070 714.075 714.079 714.080 714.090 714.095 714.100 NextLast modified: August 7, 2008