Sec. 14.4. Investment procedures for other stock investments

(a) A bank or trust company which seeks to acquire, establish, make an additional investment in, or perform new activities in any other corporation (whether or not the bank or trust company will own a majority of its stock) shall submit an application to the superintendent containing a detailed description of the applicant's investment (including, but not limited to, the purchase price, whether any shares are to be purchased from officers or executive officers of the bank or trust company, and the identity of any other investors), the activities or proposed activities of the corporation, the location of the corporation's offices and records, the organizational structure and management of the corporation, the relations between the applicant and the corporation (including, but not limited to, whether the bank or trust company intends to lend money to or guaranty the obligations of the corporation), and any other information the superintendent may request. The investment may be made or the new activity performed only upon receipt of superintendent approval.

(b) A bank or trust company that seeks to make an additional investment in a corporation, the initial investment in which was approved by the superintendent pursuant to subdivision (a) of this section, shall be required to follow only the notice procedures of section 14.3(a) of this Part.