1. Notwithstanding section 1--301 of the uniform commercial code, any bank or trust company or national bank located in this state which in accordance with the provisions of this chapter or otherwise applicable law shall have opened and occupied a branch office or branch offices in any foreign country shall be liable for contracts to be performed at such branch office or offices and for deposits to be repaid at such branch office or offices to no greater extent than a bank, banking corporation or
1. Notice to any foreign banking corporation doing business in this state under a license issued by the superintendent in accordance with the provisions of this chapter, of an adverse claim to a credit standing on its books to the account of any person, or to the balance in any deposit account, or of an adverse claim to securities or other property held for the account of any person, shall not be effectual in this state to cause said foreign banking corporation to recognize said adverse claimant
(a) Exceptions from repayment requirement A member bank shall not be required to repay any deposit made at a foreign branch of the bank if the branch cannot repay the deposit due to- (1) an act of war, insurrection, or civil strife; or (2) an action by a foreign government or instrumentality (whether de jure or de facto) in the country in which the branch is located; unless the member bank has expressly agreed in writing to repay the deposit under those circumstances. (b) Regulations The Board and