Section 10.7002 - Scope of Business of Foreign (Other Nation) Branch Office(a) Except with the prior approval of the Commissioner, no subject institution shall transact at any foreign (other nation) branch office any business other than such business as such subject institution is authorized to transact at its head office.(b) An application by a subject institution for approval to transact at a foreign (other nation) branch office any business other than such business as such subject institution is authorized to transact at its head office shall contain the following information: (1) Identify the foreign (other nation) branch office.(2) Describe the business which the subject institution proposes to transact at the foreign (other nation) branch office.(3) Show that such business is usual in connection with the business of banking in the place where the foreign (other nation) branch office is located.(4) Show that such business is not unsafe or unsound.(5) State the reasons why the subject institution wishes to transact such business at the foreign (other nation) branch office.Cal. Code Regs. Tit. 10, § 10.7002
1. Change without regulatory effect amending section and adding new NOTE filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34). Note: Authority cited: Section 215, Financial Code. Reference: Section 512, Financial Code.
1. Change without regulatory effect amending section and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).