78-6

78-6

San Francisco, California

October 2, 1978

Dear Mr. ________:

This is in reply to your letter of September 13, 1978.

You are correct. ________ need not obtain any specific approval from the State Banking Department in order to make a loan to a foreign corporation in a foreign country.

If we may be of further assistance, please feel free to contact us.

Very truly yours,

JACK L. TAUFER
Superintendent of Banks

By

JAMES F. CARRIG
Chief Counsel

JFC:jo

cc: State Banking Department. L. A.