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U.S. Code/Title 12/§ 616

Title 12

12

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12 U.S.C. § 616.Chapter 6

§ 616

Place of carrying on business; when business may be begun

Title 12
1 min read
Subchapter: ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING

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No corporation organized under this subchapter shall carry on any part of its business in the United States except such as, in the judgment of the Board of Governors of the Federal Reserve System, shall be incidental to its international or foreign business: , That except such as is incidental and preliminary to its organization, no such corporation shall exercise any of the powers conferred by this subchapter until it has been duly authorized by the Board of Governors of the Federal Reserve System to commence business as a corporation organized under the provisions of this subchapter.And provided further

§ 615

Release: pl-119-102 (2026-07-12)

§ 617

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