Reciprocal basis definition
Reciprocal basis means that a financial institution whose licensed or principal place of business is located in this state has the express authority under the laws of a state other than Iowa to conduct business under qualifications and conditions which are no more restrictive than those imposed by the laws of the other state on financial institutions whose licensed or principal place of business is located in the other state, as determined by the administrator, and the laws of Iowa are no more restrictive of financial institutions whose licensed or principal place of business is located in such other state than they are of financial institutions whose licensed or principal place of business is located in this state.
Examples of Reciprocal basis in a sentence
Some or more than two Member States who are well-prepared in market access for some service sectors can hold the negotiation on Reciprocal basis with a party or more than one parties, but not causing difficulties for other Member States who are not in the agreement.