17-5203.   Commissioner to make recommendations to board on petition; toissue certificate of approval of incorporation; to execute certificate ofincorporation; to file certificate of approval and certificate ofincorporation.Upon receipt of such documents, the commissioner shall submit to thesavings and loan board his recommendations upon any such petition. In theevent the savings and loan board shall approve the incorporation of theassociation, the commissioner shall issue a certificate of approval of theincorporation of such association in substantially the following form:

      I, _________, savings and loan commissioner of the state of_________, do hereby certify that, by resolution dated ______, thesaving and loan board approved the incorporation of __________ Savingsand Loan Association __________, and determined that:

      1.   The provisions of the savings and loan act have been compliedwith.

      2.   The certificate of incorporation and bylaws conform to theprovisions of the savings and loan act.

      3.   The directors named in the certificate of incorporation arepersons of good character and responsibility and have the experience andgeneral fitness to engage in the savings and loan business.

      4.   A necessity exists for such an association in the community to beserved.

      5.   There is a reasonable probability of the usefulness and successof the association.

      6.   The incorporation of such association will not unduly injure anyproperly conducted existing association, in the same or neighboringcommunities.

      The incorporation of __________ Savings and Loan Association__________ is hereby approved.

      In Witness Whereof, I have hereunto set my hand and the seal ofmy office, this __________ day of __________, 19__.

(Seal)
______________________________

Savings and Loan Commissioner.

      The commissioner shall at the same time execute in triplicate acertificate of incorporation in substantially the following form:

Certification of Incorporation of _________________________,

Savings and Loan Association

      I, __________, savings and loan commissioner of the state of__________, do hereby certify that __________ Savings and LoanAssociation, whose home office is located in __________, county of__________, state of __________, is duly incorporated under theprovisions of the savings and loan act and is legally authorized tooperate and do business as a savings and loan association under the lawsof this state.

      In Witness Whereof, I hereunto set my hand and seal of my officethis the __________ day of __________, 19__.

(Seal)

______________________________

Savings and Loan Commissioner.

      The commissioner shall file one signed copy of such certificate ofapproval and of the certificate of incorporation with the secretary ofstate.

      History:   L. 1943, ch. 133, § 4; July 1.