12 U.S.C. § 3107 - U.S. Code - Unannotated Title 12. Banks and Banking § 3107. Representative offices

(a)Prior approval to establish representative offices

(b)Termination of representative offices

The Board may order the termination of the activities of a representative office of a foreign bank on the basis of the standards, procedures, and requirements applicable under section 3105(e) of this title with respect to branches and agencies.

(c)Examinations

The Board may make examinations of each representative office of a foreign bank, the cost of which shall be assessed against and paid by such foreign bank. The Board may also make examinations of any affiliate of a foreign bank conducting business in any State if the Board deems it necessary to determine and enforce compliance with this chapter, the Bank Holding Company Act of 1956, or other applicable Federal banking law.

(d)Compliance with State law

This chapter does not authorize the establishment of a representative office in any State in contravention of State law.