MARVIN MANDEL, Governor

2021

(1)   DOES NOT HAVE MORE THAN SIX MONTHS TO
RON;

(II)   RESULTS FROM A TRANSACTION INVOLVING
IMPORTATION, EXPORTATION, OR DOMESTIC SHIPMENT OF GOODS;
AND

(III)   WHEN ACCEPTED, HAS ATTACHED A SHIPPING
DOCUMENT WHICH CONVEYS OR SECURES TITLE OR, FOR READILY
MARKETABLE STAPLES, IS SECURED BY A WAREHOUSE RECEIPT OR
OTHER DOCUMENT WHICH CONVEYS OR SECURES TITLE.

(2)   A STATE BANK MAY ACCEPT DRAFTS DRAWN ON
IT BY A BANK OR BANKER IN ANY FOREIGN COUNTRY,
DEPENDENCY, OR INSULAR POSSESSION OF THE UNITED STATES TO
PROVIDE DOLLAR EXCHANGE REQUIRED BY THE USAGE OF TRADE IN
THE COUNTRY, DEPENDENCY, OR INSULAR POSSESSION, IF THE
DRAFT:

(I)    DOES NOT HAVE MORE THAN THREE MONTHS TO
RUN;

(II)  IS ACCOMPANIED BY DOCUMENTS WHICH CONVEY
OR SECURE TITLE OR BY OTHER ADEQUATE SECURITY IF THE
DRAFT PROVIDES DOLLAR EXCHANGE TO ANY BANK OR BANKER IN
AN AGGREGATE AMOUNT WHICH EXCEEDS 10 PERCENT OF THE PAID
UP AND UNIMPAIRED CAPITAL AND SURPLUS OF THE ACCEPTING
STATE BANK; AND

(III)   DOES NOT PROVIDE DOLLAR EXCHANGE IN AN
AMOUNT WHICH EXCEEDS AT ANY TIME 50 PERCENT OF THE
AGGREGATE AMOUNT OF THE PAID UP AND UNIMPAIRED CAPITAL
AND SURPLUS OF THE ACCEPTING STATE BANK.

(B) OWNING AND LEASING PERSONAL PROPERTY.

SUBJECT TO THE RULES AND REGULATIONS OF THE
COMMISSIONER, A STATE BANK MAY BECOME THE OWNER AND
LESSOR OF PERSONAL PROPERTY, OTHER THAN A LEASEHOLD
INTEREST IN REAL ESTATE, IF:

(1)    THE PROPERTY IS ACQUIRED ON THE SPECIFIC
REQUEST OF AND FOR THE USE OF A CUSTOMER;

(2)    THE PROPERTY ACQUIRED FOR ANY ONE
CUSTOMER DOES NOT EXCEED IN THE AGGREGATE 10 PERCENT OF
THE UNIMPAIRED CAPITAL AND SURPLUS OF THE STATE BANK; AND

(3)   THE AGGREGATE INVESTMENT IN ALL PROPERTY
SO LEASED BY THE STATE BANK DOES NOT EXCEED 100 PERCENT
OF ITS UMIMPAIRED CAPITAL AND SURPLUS.

REVISOR'S NOTE: This section is new language derived
without substantive change from the third