12 U.S. Code Chapter 6 - FOREIGN BANKING

SUBCHAPTER I—ESTABLISHMENT BY NATIONAL BANKS OF FOREIGN BRANCHES AND INVESTMENTS IN BANKS DOING FOREIGN BUSINESS Sec. 601. Authorization; conditions and regulations. 602. Reports and examinations. 603. Restrictions imposed by Board of Governors of the Federal Reserve System on banks purchasing stock in corporations doing foreign business. 604. Accounts of foreign branches; profit and loss. 604a. Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions. 605. Repealed. SUBCHAPTER II—ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING 611. Formation authorized; fiscal agents; depositaries in insular possessions. 611a. Statement of purposes; rules and regulations. 612. Articles of association; contents. 613. Signing of articles of association; forwarding to and filing by Board of Governors of the Federal Reserve System; organization certificate; contents. 614. Organization certificate; acknowledgment; forwarding to, filing, and approval by Board of Governors of the Federal Reserve System; permit to do business; body corporate; name; seal; corporate succession; contracts; suits; directors, officers, and employees; bylaws. 615. Powers of corporation. 616. Place of carrying on business; when business may be begun. 617. Engaging in commerce or trade in commodities; price fixing; forfeiture of charter; acts forbidden to directors, officers, agents, or employees. 618. Capital stock; amount; when paid in. 619. Capital stock; by whom held; ownership of capital stock by foreign bank. 620. Members of Board of Governors of the Federal Reserve System without interest in corporation. 621. Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited. 622. Forfeiture of rights and privileges; dissolution; liability of directors and officers. 623. Voluntary liquidation. 624. Appointment of receiver or conservator. 625. Stockholders’ meetings; books and records; reports; examination. 626. Dividends; surplus fund. 627. State taxation. 628. Extension of corporate existence. 629. Conversion of banking corporations into Federal corporations; procedure. 630. Offenses by officers of corporation; punishment. 631. False representations as to liability of United States for acts of corporation; punishment. 632. Jurisdiction of United States courts; disposition by banks of foreign owned property. 633. Potential liability on foreign accounts.


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