State, National, Micronesian, and Foreign Banks

State, National, Micronesian, and Foreign Banks. Subject to the approval of the director pursuant to this division, a state, national, Micronesian, or foreign bank may establish an office in the Commonwealth and engage in the business of banking in the Commonwealth, provided it meets the requirements of a Commonwealth bank as found in 4 CMC §§ 6209 and 6210. Source: PL 3-104, § 231; amended by PL 8-3, § 2. Commission Comment: With respect to the reference to the “director” of the Department of Commerce and Labor, see Executive Order 94-3 (effective August 23, 1994), reorganizing the executive branch, changing agency names and official titles, and effecting other changes, set forth in the Commission comment to 1 CMC § 2001.