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

• Reciprocal basis funding When research grant contributions are received on a reciprocal basis, at the end of the financial year the stage of completion of the project is estimated by measuring the costs of the research project effort in producing the deliverable to date.The total expenditure incurred by the end of the financial year therefore defines the revenue earned on a stage­of­completion basis, and this amount is recorded in the university's annual ‘income statement’ as the research revenue earned.

• These include Member of Parliament, Resident District Commissioners, and members of various commissions, employees of various intelligence agencies112.

• As such, developing countries’ ability to retaliate through the withdraw of concessions under the Dispute Settlement Mechanism is compromised, simply because of developing countries’ participation in the multilateral trading system on a Non Reciprocal basis.

• DECISION The CDA Board in light of setting up of Pakistan Square in Chile approved the round about located at the intersection of Murree Road and Park Road to be named as Chile Square on Reciprocal basis.