§ 173 Foreign Bank Definitions

This law tells us what the word “foreign” means when we talk about banks, and says that a “foreign banking corporation” is just a bank that comes from another country or state.

Key Takeaways

•“Foreign” means from another nation or another state when talking about banks or similar companies.
•A “foreign banking corporation” is simply a bank that isn’t from the state it’s operating in.
•These definitions help regulators know which rules apply to out‑of‑state or out‑of‑country banks.

Example

A bank from California opens a branch in Nevada.

Because the bank is from a different state, the law calls it a “foreign bank” and the branch is a “foreign banking corporation” under this rule.

(a) “Foreign,” when used with respect to a bank, an office of a bank, or any corporation other than a bank, means foreign (other nation) or foreign (other state). (b) “Foreign banking corporation” means a foreign bank. (Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)

This law tells us what the word “foreign” means when we talk about banks, and says that a “foreign banking corporation” is just a bank that comes from another country or state.

Key Takeaways

•“Foreign” means from another nation or another state when talking about banks or similar companies.
•A “foreign banking corporation” is simply a bank that isn’t from the state it’s operating in.
•These definitions help regulators know which rules apply to out‑of‑state or out‑of‑country banks.

Example

A bank from California opens a branch in Nevada.

Because the bank is from a different state, the law calls it a “foreign bank” and the branch is a “foreign banking corporation” under this rule.

Key Takeaways

Example

Key Terms

References

§ 173 Foreign Bank Definitions

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References