§ 202-a. Restrictions on receiving deposits. 1. A foreign banking
corporation licensed pursuant to article two of this chapter to maintain
one or more agencies in this state shall not engage in the business of
receiving deposits in this state; provided (a) that such foreign banking
corporation may maintain for the account of others credit balances
incidental to, or arising out of, the exercise of its lawful powers; and
(b) that the superintendent of financial services is authorized to adopt
regulations that permit a foreign banking corporation, licensed pursuant
to article two of this chapter to maintain one or more agencies in this
state, to issue to a corporation, partnership, trust, unincorporated
association, joint stock association or similar association obligations
each in a principal amount of not less than one hundred thousand
dollars; and (c) that such foreign banking corporation may accept
deposits other than from citizens or residents of the United States as
the superintendent shall define by regulation.

2. A foreign banking corporation organized under the laws of a foreign
country may be licensed pursuant to article two of this chapter to
maintain a branch or branches in this state and may engage in the
business of receiving deposits in this state.

3. The superintendent of financial services shall have power to
prescribe, by specific or general regulation, to the extent to which and
the conditions upon which, the deposits and credit balances in agencies
and branches in this state of foreign banking corporations may be
established, maintained and paid out.