6-148

6-148. Failure to act on application as
approval

A. Notwithstanding any other provision of this article, any application for
approval to acquire control of a bank, trust company, savings and loan association or
controlling person which is not denied or approved by the superintendent within a period
of sixty days after such application is filed with the superintendent or if the applicant
consents to an extension of the period within which the superintendent may act, within
such extended period, shall be deemed to be approved by the superintendent as of the
first day after such period of sixty days or such extended period. If the superintendent
gives notice of a hearing, the sixty-day period shall be extended to such date as may be
fixed by order of the superintendent.

B. For purposes of this section, an application for approval is deemed to be filed
with the superintendent at the time when the complete application, including any
amendments or supplements, containing all the information in the form required by the
superintendent, is received by the superintendent.