30.04.380 - Investment in paid-in capital stock and surplus of banks or corporations engaged in international or foreign banking.

Investment in paid-in capital stock and surplus of banks or corporations engaged in international or foreign banking.

Any bank or trust company may invest an amount not exceeding ten per centum of its paid-in capital stock and surplus in the stock of one or more banks or corporations chartered under the laws of the United States, or of any state thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries, or in such dependencies or insular possessions.

[1986 c 279 § 13; 1973 1st ex.s. c 104 § 9.]