12 U.S.C. § 611 : US Code - Section 611: Formation authorized; fiscal agents; depositaries in insular possessions

Search 12 U.S.C. § 611 : US Code - Section 611: Formation authorized; fiscal agents; depositaries in insular possessions

Corporations to be organized for the purpose of engaging in
international or foreign banking or other international or foreign
financial operations, or in banking or other financial operations
in a dependency or insular possession of the United States, either
directly or through the agency, ownership or control of local
institutions in foreign countries, or in such dependencies or
insular possessions as provided by this subchapter and to act when
required by the Secretary of the Treasury as fiscal agents of the
United States, may be formed by any number of natural persons, not
less in any case than five: Provided, That nothing in this
subchapter shall be construed to deny the right of the Secretary of
the Treasury to use any corporation organized under this subchapter
as depositaries in Panama and the Panama Canal Zone, or other
insular possessions and dependencies of the United States.