But Bank of America contends that federal banking laws, not state law, governs its conduct, and it forecloses under its own name. That will continue to be the practice of acting as its own foreclosure trustee, a bank spokeswoman said."As a national bank, ReconTrusts authority to act as trustee is derived from federal law (the National Bank Act)," said Jumana Bauwens, a spokeswoman for Bank of America, in an email in response to a query about the new Utah law.
Corporate business charters are a State matter. If you're domiciled in a different state you still need to file as a foreign corporate and seek permission to operate in the State.
The State can revoke that charter which would instantly render conducting business in the State (e.g. maintaining an office, employing people, etc.) unlawful. It can then close any in-state entity doing business as what is now an unlicensed and unlawful enterprise by force, literally chaining the doors closed if necessary.
To the State of Utah: Where are your balls?
I want to know if you can find them with both hands and a flashlight, or if you're going to knob-job Bank of America and screw your citizens while making a lot of worthless noise.
We, the people, are watching.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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