7-1-733. Rejection or revocation of registration as a domestic international banking facility.

The department may revoke any registration or reject any application to register or renew a registration for a domestic international banking facility upon a finding that:#

1. (1)

   The facility no longer qualifies to register under this article;#

2. (2)

   The scope of the business conducted by the facility exceeds that authorized by this article;#

3. (3)

   The chartering authority of the parent bank of the facility requests such action in writing; or#

4. (4)

   The department determines, on its own initiative or otherwise, that representations made by the registrant, including, but not limited to, representations under paragraph (6) of subsection (b) of Code Section 7-1-732, are inaccurate.#

No facility whose registration has been rejected by the department may establish an international banking facility in this state.#