The nature of the business and the object and purposes proposed to be transacted, promote and carried on for pecuniary profit by the Corporation are to perform the following activities authorized by the Act, and by the regulations issued thereunder (and such other activities as authorized from time to time by the Act); subject to the limitations and/or conditions provided thereby: Upon authorization of the Commissioner, accept deposits from foreign persons in checking accounts, as well as demand or fixed term deposits, including interbank demand deposits and fund deposits, or otherwise borrow money from international financial institutions and any foreign person pursuant to the regulationsof the Commissioner. Every international financial institution may borrow money on loan, provided, that said transactios are not tantamount to the acceptance of deposits. Article 12 (a) (1) of the Act, provided that it shall not accept deposits from persons that are residents of the United States. Make or place deposits, in, and otherwise give money on loan to, the Governemnt Development Bank for Puerto Rico, the Economic Development Bank for Puerto Rico, any international financial institution, or any bank, including banks organized under the laws of Puerto Rcio, and branches in Puerto Rico of banks that are foreign persons. Article 12 (a) (3) of the Act.
