6-324. De novo entry by certain financial institutions

An out-of-state financial institution may establish a bank, savings and loan association or holding company in this state through de novo entry subject to the applicable laws of this state. An in-state financial institution may not be acquired for operation as a branch by an out-of-state financial institution until it has been in continuous operation for five or more years on the date of the proposed acquisition.

6-324. De novo entry by certain financial institutions

An out-of-state financial institution may establish a bank, savings and loan association or holding company in this state through de novo entry subject to the applicable laws of this state. An in-state financial institution may not be acquired for operation as a branch by an out-of-state financial institution until it has been in continuous operation for five or more years on the date of the proposed acquisition.