Oklahoma § 6-1607 - International administrative offices

§ 6-1607. International administrative offices

International administrative offices.

Oklahoma Statutes - Title 6. Banks and Trust Companies

A. Any international banking corporation having capital

accounts in excess of Twenty-five Million Dollars ($25,000,000.00)

may establish one office in this state for the purposes of:

1. Administering its personnel and operations outside the

United States;

2. Engaging in data processing and recordkeeping with respect

to its international transactions; and

3. Negotiating, approving, or servicing international loans or

extensions of credit.

B. An office established pursuant to the provisions of this

section may not engage in any activity except those activities set

forth in subsection A of this section.

C. An office established in accordance with the provisions of

this section does not require a certificate of authority to do

business pursuant to Sections 301 through 313 of Title 6 of the

Oklahoma Statutes, nor shall it be deemed a branch pursuant to

Section 501.1 of Title 6 of the Oklahoma Statutes.

D. An international banking corporation establishing an office

in accordance with the provisions of this section is subject to the

provisions of subsection A of Section 14 of this act and subsections

A through D of Section 16 of this act, except that the nonrefundable

application fee to be set by rule of the Board shall be no less than

Two Thousand Five Hundred Dollars ($2,500.00) and the annual renewal

fee shall be no less than Two Hundred Fifty Dollars ($250.00).

E. The Board shall conduct regular examinations of any office

established in accordance with the provisions of this section. Such

examinations shall be conducted primarily for the purpose of

determining compliance with the provisions of this section and the

Board's rules concerning any international banking corporation

having an international administrative office in this state.

Added by Laws 1992, c. 295, § 17, eff. July 1, 1992.