Section 6-327 - Applicable laws and rules; cooperative agreements; contracting exemptionA. Any bank, savings and loan association, out-of-state financial institution or holding company doing business as such in this state is subject to the applicable laws of this state and all the rules adopted pursuant to such laws, including examination and supervision by the deputy director.B. In the case of an acquisition to create a branch in this state, the acquisition is prohibited unless the home state of the out-of-state financial institution allows reciprocal acquisitions for the same purposes.C. An out-of-state financial institution that acquires an in-state financial institution or an out-of-state financial institution that is the result of a merger with an in-state financial institution may do either of the following subject to applicable state and federal laws:1. Continue to operate the in-state financial institution.2. Convert any existing principal banking office or any or all branches in this state into a branch of the out-of-state financial institution.D. An in-state branch of an out-of-state financial institution shall comply with the laws of the institution's home state, or shall comply with federal law in the case of a federally chartered institution. The laws of the institution's home state apply, except as follows:1. The laws of this state apply if necessary to preserve the safety and sound operation of a branch in this state or to otherwise protect the citizens of this state.2. Any laws of this state regarding community reinvestment, consumer protection, fair lending and intrastate branching apply to a branch in this state of an out-of-state financial institution to the same extent that those laws apply to an in-state financial institution.3. An out-of-state financial institution that is authorized to operate a branch in this state may engage in activity only to the extent the activity is allowed for an in-state financial institution.E. Subsection D of this section does not limit the jurisdiction or authority of the deputy director to examine, supervise and regulate an out-of-state financial institution that is operating or seeking to operate a branch in this state or to take any action or issue any order with respect to that branch.F. An out-of-state bank that operates a branch in this state shall do both of the following: 1. Obtain a grant of authority to transact business in this state and comply with all other applicable filing requirements prescribed by title 10 to the same extent as any other entity transacting business in this state.2. Provide written notice to the deputy director of the out-of-state bank's grant of authority to transact business in this state.G. The deputy director may adopt rules, including the imposition of reasonable application and examination fees, to implement and administer this article.H. The deputy director may do any of the following:1. Examine, supervise and regulate a branch operated in this state by an out-of-state bank and take any action or issue any order with respect to that branch.2. Examine, supervise and regulate a branch operated in another state by a bank and take any action or issue any order with respect to that branch.3. Coordinate these activities with any other state or federal agency that shares jurisdiction over that financial institution.4. Coordinate the examination, supervision and regulation of any in-state financial institution with the examination, supervision and regulation of a branch or affiliated financial institution that is operating in another state by doing any of the following: (a) Contracting with an agency that shares jurisdiction over the financial institution to retain its examiners at a reasonable rate of compensation.(b) Offering the services of the department's examiners at a reasonable rate of compensation to an agency that shares jurisdiction over the financial institution.(c) Collecting fees on behalf of or receiving payment of fees through an agency that has jurisdiction over the financial institution.5. Enter into cooperative agreements with federal and state regulatory authorities for the examination and supervision of any acquired or de novo entry bank, savings and loan association or holding company and may accept reports of examination and other records from those authorities instead of conducting an examination.I. The department is exempt from title 41, chapter 23 in contracting for examiners pursuant to subsection H, paragraph 4, subdivision (a) of this section.Amended by L. 2021, ch. 356,s. 62, eff. 9/29/2021.