12 U.S.C. § 3107
Section 3107 · Representative offices
Current version, with additions and removals from the October 28, 1992 version.
(1) In general
(1) In general
No foreign bank may establish a representative office without the prior approval of the Board.
No foreign bank may establish a representative office without the prior approval of the Board.
(2) Standards for approval
(2) Standards for approval
In acting on any application under this paragraph to establish a representative office, the Board shall take into account the standards contained in section 3105(d)(2) of this title and may impose any additional requirements that the Board determines to be necessary to carry out the purposes of this chapter.
In acting on any application under this paragraph to establish a representative office, the Board shall take into account the standards contained in section 3105(d)(2) of this title and may impose any additional requirements that the Board determines to be necessary to carry out the purposes of this chapter.
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.
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.
This chapter does not authorize the establishment of a representative office in any State in contravention of State law.
This chapter does not authorize the establishment of a representative office in any State in contravention of State law.