§246. Bank operating subsidiaries

            A. A state bank may, through a wholly-owned operating subsidiary, conduct any activity or make any investment that the state bank is authorized to conduct or make under state or federal law. A state bank that establishes a subsidiary in accordance with this Subsection shall provide the commissioner written notice within thirty days after establishing the subsidiary or commencing the new activity in the subsidiary.

            B. Except as provided in Subsection A of this Section, a state bank shall obtain written approval from the commissioner in order to conduct any activity through a subsidiary.

            Acts 2019, No. 16, §1.