(a) Every international banking corporation, before being licensed by the department
to transact a banking business in this state or before maintaining in this state any
office to carry on such business or any part thereof, shall subscribe and acknowledge
and submit to the department at its office a separate application which shall state:
(1) The name of such international banking corporation;
(2) The location by street and post office address and county where its business is
to be transacted in this state and the name of the person who shall be in charge of
the business and affairs of the international bank agency;
(3) The location where its initial registered office will be located in this state;
(4) The amount of its capital actually paid in and the amount subscribed for and unpaid;
(5) The actual value of the assets of such international banking corporation, which
must be at least $50 million in excess of its liabilities, and a complete and detailed
statement of its financial condition as of a date within 60 days prior to the date
of such application, provided that the department, in its discretion, may, when necessary
or expedient, accept such statement of financial condition as of a date within 120
days prior to the date of such application.
(b) At the time such application is submitted to the department, such corporation
shall also submit a duly authenticated copy of its articles and an authenticated copy
of its bylaws, or an equivalent thereof satisfactory to the department, and pay an
investigation and supervision fee to be established by regulation of the department.
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