32-8-315. Depository services -- restrictions and prohibitions. (1) A depository may not accept a deposit:
(a) from an individual who is a citizen or a resident of the United States;
(b) from a corporation, trust, or partnership if any shareholder, settlor, member, beneficiary, or partner is a citizen or a resident of the United States;
(c) in an amount valued at less than $200,000 in U.S. dollars.
(2) A depository may not:
(a) provide services to any customer who is not a nonresident alien;
(b) engage in lending or any related commercial banking services as defined in the Bank Act, except:
(i) in a case in which fiduciary lending is necessitated by a trust obligation and the depository has obtained a certificate from the department authorizing the depository to act as a trust company or the subsidiary of a trust company; or
(ii) in relation to a precious metals account as provided in part 4 of this chapter;
(c) transfer $10,000 or more of a customer's cash on deposit to another financial institution inside or outside the jurisdiction of the United States without submitting a record of the transaction to the commissioner and the attorney general that includes the customer's name, last-known address, and if the customer is an individual, passport number;
(d) accept a deposit from a customer who has been convicted of a state or federal felony in the United States or from a corporation of which a controlling person has been convicted of a state or federal felony in the United States.
History: En. Sec. 23, Ch. 382, L. 1997.