§ 6-104. Effect on existing banks and trust companies - Registration of bank or trust-related activities.

A.  The certificates, permits and charters of state banks and trust companies heretofore organized under the laws of the state and existing before August 31, 1965, shall continue in full force and effect.  All such state banks and trust companies, and, to the extent applicable, all national banks now or hereafter doing business in this state, shall from August 31, 1965, be subject to the provisions and requirements of this Code in every particular as if organized under this act.

B.  Any bank, bank holding company, trust company or business association not holding a charter of authority to engage in banking or trust company business in this state shall register with the Commissioner, on a form provided by the Commissioner and pay a registration fee in an amount set by rule of the Board, all bank or trust-related activities conducted in this state by the bank, bank holding company, trust company, business association, or any subsidiary or affiliate thereof.

C.  Bank or trust-related activities include receiving deposits, transaction accounts, making loans, issuing debentures or other evidence of debt, holding funds or other property in trust, acting in a fiduciary capacity, or conducting in any other manner banking, or bank or trust-related activities.

Added by Laws 1965, c. 161, § 104.  Amended by Laws 1980, c. 360, § 1, emerg. eff. June 27, 1980; Laws 1984, c. 133, § 1, eff. Oct. 1, 1984; Laws 1997, c. 111, § 3, eff. July 1, 1997; Laws 2005, c. 48, § 1, eff. Nov. 1, 2005.