6-410. Superintendent's approval and issuance of
permit to organize


The superintendent shall not approve the application and issue a permit to organize
unless he shall find:


1. A need exists for an association, and that the public convenience and advantage
will be promoted by the proposed association, in the community or area of operation
stated in the application.


2. The proposed capital meets the requirements of this chapter.


3. The general character of the proposed management is such as to assure reasonable
probability of the success of the association.


4. The name of the proposed association is not the same as, or deceptively similar
to, the name of any other association or bank in the community or area of operation.


5. Such association can be established without undue injury to properly conducted
existing associations.