§ 45-2-1804 — Duties of commissioner

The commissioner of financial institutions, in adopting regulations pursuant to § 45-2-1803 , shall: (1) Determine the appropriate level of capital or assets required for a bank to engage directly in an activity permitted in § 45-2-1802 ; (2) Determine whether the risk to depositors is sufficiently significant as to require that the activity permitted in § 45-2-1802 must be conducted in a separately capitalized subsidiary; (3) Determine the appropriate minimum level of capital required for the subsidiary; (4) Condition the bank's or subsidiary's engaging in an activity permitted in § 45-2-1802 , upon a specified level of demonstrated expertise or training; (5) In connection with subsidiaries engaged in the activities specified in § 45-2-1802(6)-(8) , adopt regulations restricting transactions between the subsidiary and a state bank parent or affiliate of the subsidiary to those transactions which are permissible under and consistent with the federal deposit insurance corporation regulations; the regulations may be adopted by reference; and (6) Adopt other regulations that are necessary to provide adequate protection for depositors of the state bank, giving due consideration to the limitations, or lack of limitations, on the same or similar activities conducted by other financial institutions.

Legislative History

Acts 1989, ch. 168, § 1.