6-328

6-328. Deposit concentration limits

A. Neither an out-of-state financial institution nor an in-state financial
institution shall acquire another out-of-state financial institution or in-state
financial institution if either of the following conditions exist:

1. The resulting out-of-state financial institution, in-state financial institution
or affiliation would control thirty per cent or more of the bank deposits held in this
state.

2. One of the out-of-state financial institutions or in-state financial
institutions in the acquisition already controls thirty per cent or more of the bank
deposits held in this state.

B. Subsection A does not apply to any interstate acquisition involving only already
affiliated entities.

C. The superintendent, by order and on findings of fact and conclusions of law, may
waive the deposit concentration limit prescribed by subsection A. In determining whether
to waive the deposit concentration limit, the superintendent shall not discriminate
against out-of-state financial institutions and shall not grant a waiver unless the
superintendent finds that the waiver will promote any of the following:

1. The availability of financial services.

2. The marketability of in-state financial institutions.

3. Another public interest.