9-1801.Application for incorporation or for certificate of authority
to be filed with the board; acceptance and approval of application for
incorporation and authority to do business by commissioner, when.
(a) No bank or trust company shall be organized or
incorporated under the laws of this state, nor shall any such institution
transact
either a banking business or a trust business in this state, until
the application for its incorporation and application for authority to do
business has been submitted to and approved by the board. The board shall
approve or disapprove the organization and establishment of any such
institution in the city or
town in which the same is sought to be located. The form for making any
such application shall be prescribed by the board and any application
made to the board shall contain such information as it shall require.
The board shall not approve any such application until it first
investigates and examines such application and the applicants.
(b) If upon the dissolution, insolvency or appointment
of a receiver of any bank, trust
company, national bank association, savings and loan association, savings
bank or credit union, it is the opinion of the commissioner that by reason of
the
loss of services in the community, an emergency exists which may result
in serious inconvenience or losses to the depositors or the public
interest in the community, the commissioner may accept and approve an
application for incorporation and application for authority to do
business from applicants for the organization and establishment of a
successor bank or trust company.
History: L. 1947, ch. 102, § 103; L. 1977, ch. 45, § 3; L. 1980,
ch. 49, § 1; L. 1989, ch. 48, § 46;
L. 1990, ch. 54, § 1;
L. 1993, ch. 7, § 2;
L. 1994, ch. 51, § 6;
L. 2001, ch. 87, § 13; July 1.
9-1801.Application for incorporation or for certificate of authority
to be filed with the board; acceptance and approval of application for
incorporation and authority to do business by commissioner, when.
(a) No bank or trust company shall be organized or
incorporated under the laws of this state, nor shall any such institution
transact
either a banking business or a trust business in this state, until
the application for its incorporation and application for authority to do
business has been submitted to and approved by the board. The board shall
approve or disapprove the organization and establishment of any such
institution in the city or
town in which the same is sought to be located. The form for making any
such application shall be prescribed by the board and any application
made to the board shall contain such information as it shall require.
The board shall not approve any such application until it first
investigates and examines such application and the applicants.
(b) If upon the dissolution, insolvency or appointment
of a receiver of any bank, trust
company, national bank association, savings and loan association, savings
bank or credit union, it is the opinion of the commissioner that by reason of
the
loss of services in the community, an emergency exists which may result
in serious inconvenience or losses to the depositors or the public
interest in the community, the commissioner may accept and approve an
application for incorporation and application for authority to do
business from applicants for the organization and establishment of a
successor bank or trust company.
History: L. 1947, ch. 102, § 103; L. 1977, ch. 45, § 3; L. 1980,
ch. 49, § 1; L. 1989, ch. 48, § 46;
L. 1990, ch. 54, § 1;
L. 1993, ch. 7, § 2;
L. 1994, ch. 51, § 6;
L. 2001, ch. 87, § 13; July 1.
9-1801.Application for incorporation or for certificate of authority
to be filed with the board; acceptance and approval of application for
incorporation and authority to do business by commissioner, when.
(a) No bank or trust company shall be organized or
incorporated under the laws of this state, nor shall any such institution
transact
either a banking business or a trust business in this state, until
the application for its incorporation and application for authority to do
business has been submitted to and approved by the board. The board shall
approve or disapprove the organization and establishment of any such
institution in the city or
town in which the same is sought to be located. The form for making any
such application shall be prescribed by the board and any application
made to the board shall contain such information as it shall require.
The board shall not approve any such application until it first
investigates and examines such application and the applicants.
(b) If upon the dissolution, insolvency or appointment
of a receiver of any bank, trust
company, national bank association, savings and loan association, savings
bank or credit union, it is the opinion of the commissioner that by reason of
the
loss of services in the community, an emergency exists which may result
in serious inconvenience or losses to the depositors or the public
interest in the community, the commissioner may accept and approve an
application for incorporation and application for authority to do
business from applicants for the organization and establishment of a
successor bank or trust company.
History: L. 1947, ch. 102, § 103; L. 1977, ch. 45, § 3; L. 1980,
ch. 49, § 1; L. 1989, ch. 48, § 46;
L. 1990, ch. 54, § 1;
L. 1993, ch. 7, § 2;
L. 1994, ch. 51, § 6;
L. 2001, ch. 87, § 13; July 1.
