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This entry was published on 2014-09-22
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SECTION 208
Nondiscriminatory treatment of insured state banks and national banks
Banking (BNK) CHAPTER 2, ARTICLE 5
§ 208. Nondiscriminatory treatment of insured state banks and national
banks. Notwithstanding any other laws of this state, a state bank, which
is incorporated in another state and whose deposits are insured by
Federal Deposit Insurance Corporation, shall have the same protection,
privileges and immunities, including the right to sue, collect debts,
realize on collateral security, enforce liens, claims and obligations,
and protect its property in this state, as a national bank whose
principal office is located in the same state as such state bank, and
such state bank and its shares, securities and evidences of indebtedness
shall enjoy the same privileges, protections and immunities as those of
such a national bank and shall not be subject to any disability,
incapacity, restriction, regulation, penalty, fee, fine or taxation
which is not imposed by this state in the case of such a national bank,
provided however that this section shall not apply with respect to any
state bank and its shares, securities and evidences of indebtedness
unless such state bank's state of incorporation has a statute with
provisions substantially similar to this section which is applicable to
a state bank incorporated in this state. As used in this section the
term "state bank" shall mean any commercial bank or trust company.