What an international banking corporation is and how old ones are protected

(a) As used in this chapter an "international banking corporation" means a corporation which has authority to operate as an international banking corporation under this part and has been required to use the term "international banking corporation," or such other term approved by the commissioner and containing the word "international," "foreign," "overseas," or some similar word as part of its name. The term "international banking corporation" also includes a person that was organized and operating under chapter 405 prior to the enactment of this chapter. (b) The existence, charters, licenses, and certificates of authority of international banking corporations formed or existing on July 1, 1993, are not affected by the enactment of this chapter nor by any change made thereby in the requirements for the formation of international banking corporations, nor by the amendment or repeal thereby of the laws under which they were formed, created, chartered, licensed or certified. (c) Except to the extent specifically provided in this chapter, the power and authority of international banking corporations existing on July 1, 1993, shall not be limited or restricted in any way by the enactment of this chapter nor by the amendment or repeal of the laws under which they were formed or created, or which granted such power and authority.