(1) A subsidiary of a foreign bank may obtain a charter as a foreign capital depository if, in addition to the other requirements of this subchapter, such applicant:

(a) obtains approval from the board of governors of the federal reserve to operate in the United States in accordance with the Foreign Bank Supervision Enhancement Act of 1991 (12 USC section 3101, et seq.) ; and

(b) submits the following information with its application for a charter:

(i) a description of the history, background and business of the foreign bank, including an organizational chart showing parent and affiliated corporations and their country of organization;

(ii) background and financial information on each controlling person of the applicant;

(iii) a description of the management structure, including the board of directors and principal officers of the foreign bank and any of its affiliates that will constitute a controlling person of the applicant;

(iv) a consolidated statement of the foreign bank's financial condition as of a date within 90 days prior to the date of application for a charter and audited consolidated financial statements, including statements of income and expense, for the foreign bank's latest three fiscal years, both certified by the foreign bank's chief executive or chief financial officer;

(v) a description of the bank regulatory system in the home country of the foreign bank, and if different, any foreign bank that owns the foreign bank whose subsidiary is applying for a charter as a foreign capital depository, describing:

(A) the extent to which each foreign bank is subject to comprehensive regulation or supervision on a consolidated basis in the home country;

(B) the powers and functions of the home country banking authorities, including frequency and scope of examinations;

(C) the function of any central bank and its relationship to private banking institutions in the home country; and

(D) the deposit insurance system, if any, in the home country.

(vi) a written statement from the banking authorities in the home country stating that they acknowledge the establishment of the proposed subsidiary foreign capital depository, and that the foreign bank is duly organized and is in good standing;

(vii) a duly executed instrument demonstrating that the foreign bank has established a registered office and registered   agent in the state of Montana in accordance with 35-1-1032, MCA; and

(viii) such additional documents or information as the commissioner or board may require.