Section 23-47-607 - Investment in stock of certain banks authorized to do foreign banking

(a) Any state bank may purchase up to one hundred percent (100%) of the capital stock of any corporation organized and existing under the Edge Act, and any amendments thereto.(b) However, in no event may any state bank acquire shares of any such corporation if, upon the making of that acquisition, the aggregate amount of shares of all corporations organized and existing under the Edge Act then held by the bank would exceed ten percent (10%) of the bank's capital base.Acts 1997, No. 89, § 1.