2020 Idaho Code
Title 26 - BANKS AND BANKING
Chapter 17 - IDAHO INTERNATIONAL BANKING ACT
Section 26-1702 - DEFINITIONS.
26-1702. DEFINITIONS. (1) As used in this chapter, unless the context otherwise requires:
(a) "Director" means the director of the department of finance.
(b) "Federal international bank institutions" means a branch, agency, or representative office of an international banking corporation established and operating under the federal international banking act of 1978, 12 U.S.C. sec. 3101 et seq., as amended, and its regulations.
(c) "Foreign country" means a country other than the United States, but including a territory or possession of the United States.
(d) "International bank agency" means a business or any part of a banking business conducted in this state or through an office located in this state, other than a federal international bank institution, which exercises powers as set forth in section 26-1709, Idaho Code, on behalf of an international banking corporation.
(e) "International bank branch" means a business or any part of a banking business conducted in this state, or through an office located in this state, other than a federal international bank institution, which exercises powers as set forth in section 26-1709, Idaho Code, on behalf of an international banking corporation.
(f) "International banking corporation" means a banking corporation organized and licensed under the laws of a foreign country or a political subdivision of a foreign country.
(g) "International representative office" means a business location of a representative of an international banking corporation other than a federal international bank institution, established to act in a liaison capacity with existing and potential customers of the international banking corporation and to generate new loans and other activities for the international banking corporation that is operating outside the state.
(2) Legal and financial terms used in this chapter refer to equivalent terms used by the country in which the international banking corporation is organized.
History:
[26-1702, added 1995, ch. 99, sec. 10, p. 308.]
