51A-2-14. Rules granting additional authority to banks to promote competitive equality.
151 words·~1 min read·
/sd/title-51/chapter-51-2/51a-2-14A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The commission may adopt rules under its jurisdiction:
(1)To authorize banks to participate in any public agency hereafter created under the laws of this state or the United States, the purpose of which is to afford advantages or safeguards to banks or to depositors, and to comply with all requirements and conditions imposed upon such participants;
(2)Deleted by SL 1999, ch 233, § 3.
(3)To allow banks to engage in any other banking or nonbanking activities, not prohibited by state law, which the commission deems appropriate; and
(4)To authorize banks to use new or different forms of accepting deposits, making loans, transferring funds, offering services and such other subjects as it deems appropriate.
In adopting rules pursuant to this section, the commission shall adopt only such rules that, in the opinion of the commission, promote competitive equality between state chartered banks, national banks, and other financial institutions.