{"identifier":"/us/usc/t12/s3107","title":12,"num":"\u00a7\u202f3107.","heading":"Representative offices","text":"\u00a7\u202f3107.\nRepresentative offices\n(a)\nPrior approval to establish representative offices\n(1)\nIn general\nNo foreign bank may establish a representative office without the prior approval of the Board.\n(2)\nStandards for approval\nIn acting on any application under this paragraph to establish a representative office, the Board shall take into account the standards contained in\nsection 3105(d)(2) of this title\n(b)\nTermination of representative offices\nThe 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\nsection 3105(e) of this title\n(c)\nExaminations\nThe Board may make examinations of each representative office of a foreign bank, the cost of which shall be assessed against and paid by such foreign bank. The Board may also make examinations of any affiliate of a foreign bank conducting business in any State if the Board deems it necessary to determine and enforce compliance with this chapter, the Bank Holding Company Act of 1956 [\n12 U.S.C. 1841\n(d)\nCompliance with State law\nThis chapter does not authorize the establishment of a representative office in any State in contravention of State law.","url":"https://projectusc.org/usc/t12/s3107.html","content":[{"t":"sec","id":"/us/usc/t12/s3107","children":[{"t":"num","text":"\u00a7\u202f3107."},{"t":"heading","text":"Representative offices"},{"t":"subsec","id":"/us/usc/t12/s3107/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Prior approval to establish representative offices"},{"t":"para","id":"/us/usc/t12/s3107/a/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"No foreign bank may establish a representative office without the prior approval of the Board.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s3107/a/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Standards for approval"},{"t":"content","children":[{"t":"p","text":"In acting on any application under this paragraph to establish a representative office, the Board shall take into account the standards contained in ","children":[{"t":"ref","text":"section 3105(d)(2) of this title","href":"/us/usc/t12/s3105/d/2","tail":" and may impose any additional requirements that the Board determines to be necessary to carry out the purposes of this chapter."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s3107/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Termination of representative offices"},{"t":"content","children":[{"t":"p","text":"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 ","children":[{"t":"ref","text":"section 3105(e) of this title","href":"/us/usc/t12/s3105/e","tail":" with respect to branches and agencies."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s3107/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Examinations"},{"t":"content","children":[{"t":"p","text":"The Board may make examinations of each representative office of a foreign bank, the cost of which shall be assessed against and paid by such foreign bank. The Board may also make examinations of any affiliate of a foreign bank conducting business in any State if the Board deems it necessary to determine and enforce compliance with this chapter, the Bank Holding Company Act of 1956 [","children":[{"t":"ref","text":"12 U.S.C. 1841","href":"/us/usc/t12/s1841","tail":" et seq.], or other applicable Federal banking law."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s3107/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Compliance with State law"},{"t":"content","children":[{"t":"p","text":"This chapter does not authorize the establishment of a representative office in any State in contravention of State law.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}