Subject to applicable laws, regulations, and any required approval of the Commissioner or other regulators, a universal bank may: Establish eligibility requirements and the types and terms of deposits that the universal bank may solicit and accept; Make, sell, purchase, arrange, participate in, invest in, or otherwise deal in a loan or extension of credit for any purpose and invest in debt instruments or debt securities (“make a loan”), subject to § 26-1401.12 ; Acquire an equity interest or other form of interest as security in a project funded through a loan made under paragraph (2) of this section, subject to § 26-1401.12 ; Acquire an equity interest in a profit-participation project, including a project funded through a loan from the universal bank, subject to § 26-1401.13 ; Purchase, sell, underwrite, and hold investment securities, consistent with safe and sound banking practices, subject to § 26-1401.13 ; Purchase, sell, underwrite, and hold equity securities, consistent with safe and sound banking practices, subject to § 26-1401.13 ; Invest in housing projects, as defined in § 26-1401.13 , with the prior written approval of the Commissioner, subject to § 26-1401.13 ; Purchase, sell, and invest in such other investments as the Commissioner, by regulation, may provide, consist with safe and sound practices, subject to § 26-1401.13 ; Buy and sell securities as an agent or broker, subject to § 26-1401.15 ; Buy and sell real estate and interests in real estate as an agent or broker; Manage real estate and other property; Sell annuities, subject to § 26-1401.15 ; Sell life insurance, accident insurance, health insurance, property insurance, casualty insurance, and any other form of insurance, subject to § 26-1401.15 ; Act as a broker-dealer, securities agent, investment adviser, investment adviser representative, insurance agent, or insurance broker, if otherwise qualified, upon obtaining a license from the Department of Insurance and Securities Regulation [Department of Insurance, Securities, and Banking], subject to § 26-1401.15 ; Buy and sell commodities as a principal, agent, or broker, with the prior written approval of the Commissioner, subject to § 26-1401.15 ; Underwrite and distribute annuities, subject to § 26-1401.15 , with the prior written approval of the Commissioner and the appropriate federal financial institutions agency of the universal bank; provided, that the underwriting and distribution shall be conducted only through a non-depository financial institution affiliate of the universal bank unless federal law permits the underwriting and distribution to be conducted through a subsidiary of the financial institution; Underwrite and distribute life insurance, accident insurance, health insurance, property insurance, casualty insurance, and any other form of insurance, with the prior written approval of the Commissioner, subject to § 26-1401.15 ; provided, that the underwriting and distribution shall be conducted only through a non-depository financial institution affiliate of the universal bank unless federal law permits the underwriting and distribution to be conducted through a subsidiary of the financial institution; Underwrite, deal in, or make a market in securities, with the prior written approval of the Commissioner, subject to § 26-1401.15 ; provided, that the underwriting, dealing, market-making shall be conducted only through a subsidiary of the universal bank; and Distribute shares in investment companies, with the prior written approval of the Commissioner, subject to § 26-1401.15 ; provided, that the distribution shall only be conducted through a subsidiary of the universal bank. With the approval of the Commissioner, a universal bank may securitize its assets for sale to the public. The Commissioner may establish procedures governing the exercise of authority granted under this subsection.
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