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Can you summarize 5 DECO Chapter 12?
Banks and Trust Companies > BANK OWNERSHIP AND PARTICIPATION IN EXPORT TRADING COMPANY ACT
Short Summary
The provided legal document content pertains to the Bank Ownership and Participation in Export Trading Company Act. It states that banks regulated under this chapter are allowed to invest or participate in the capital and financing of export trade companies, as defined and permitted by federal law (15 U.S.C. 4001 et seq). The banks can engage in these activities directly or indirectly through contractual arrangements, subsidiary companies, or affiliate companies owned or controlled alone or together with other persons, as permitted by law. The banks may also delegate these activities to their officers, employees, or other appointed trustees or persons. The document does not mention any specific exemptions or penalties related to these provisions.
Whom does it apply to?
Banks regulated under this chapter
What does it govern?
Investment and participation by banks in export trade companies
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Delaware