Except as provided in §§ 51A-4-10, a bank may lease, purchase, hold, and convey in its own name, or through investment in a corporation organized solely to lease such property to it, only the following real property:
(1) That which it occupies or intends to occupy for the transaction of its business or which it partly so occupies and partly rents or leases to others;
(2) That which is used for accommodation in the transaction of the bank's business, including parking, storage and preservation of records, and data processing facilities; or
(3) That which is used for housing or recreation accommodations for attracting and retaining employees.
All such accommodations shall be of a reasonable nature.
The book value of a bank's premises may not exceed in the aggregate one hundred percent of the bank's capital stock and surplus. However, the director may authorize a larger investment, upon formal application and after an investigation, if the sound conduct of banking will not be adversely affected by the larger investment. For the purposes of this section, book value includes those amounts which are to be reported as premises and fixed assets according to the instructions for consolidated reports of condition filed with the division.