9-1802.Investigation and examination; approval or disapproval of application;
two or more applications to serve same territory.
Upon the filing of any such application with the state banking board, such board shall
make, or cause to be made, a careful examination and investigation
concerning: (a) The financial standing, general business experience and
character of the organizers and incorporators; (b) the character,
qualifications and experience of the officers of the proposed bank or
trust company; (c) the public need for the proposed bank or trust company
in the community wherein it is proposed to locate the same and whether
existing banks or trust companies are meeting such need; (d) the prospects
for success of the proposed bank or trust company. If the board
shall determine any of such matters unfavorably to the applicants, the
application shall be disapproved, but if not, then the application shall
be approved. The board shall not make membership in any federal
government agency a condition precedent to the granting of any
application for incorporation and authority to do business.
In the event two or more applications for incorporation and authority
to do business seeking to serve the same general territory are pending
before the board, and the board determines all of such matters favorably
in two or more such applications, the board may approve the application
of the proposed bank or trust company which it determines will best serve the needs of
the territory sought to be served. If one or more such applications
seeking to serve a territory are pending before the board, and the board
has determined all of such matters favorably in one or more of such
applications, and there also is pending before the board an application
of an existing bank or trust company to change its place of business to serve the same
territory which the board determines should be approved, and the board
determines that there is public need for only one bank or trust company to serve the
territory, the board may approve the application of the existing bank or
trust company to
change its place of business and disapprove the application or
applications for incorporation and authority to do business.
History: L. 1947, ch. 102, § 104; L. 1975, ch. 44, § 37; L.
1977, ch. 45, § 4; L. 1989, ch. 48, § 47; July 1.
9-1802.Investigation and examination; approval or disapproval of application;
two or more applications to serve same territory.
Upon the filing of any such application with the state banking board, such board shall
make, or cause to be made, a careful examination and investigation
concerning: (a) The financial standing, general business experience and
character of the organizers and incorporators; (b) the character,
qualifications and experience of the officers of the proposed bank or
trust company; (c) the public need for the proposed bank or trust company
in the community wherein it is proposed to locate the same and whether
existing banks or trust companies are meeting such need; (d) the prospects
for success of the proposed bank or trust company. If the board
shall determine any of such matters unfavorably to the applicants, the
application shall be disapproved, but if not, then the application shall
be approved. The board shall not make membership in any federal
government agency a condition precedent to the granting of any
application for incorporation and authority to do business.
In the event two or more applications for incorporation and authority
to do business seeking to serve the same general territory are pending
before the board, and the board determines all of such matters favorably
in two or more such applications, the board may approve the application
of the proposed bank or trust company which it determines will best serve the needs of
the territory sought to be served. If one or more such applications
seeking to serve a territory are pending before the board, and the board
has determined all of such matters favorably in one or more of such
applications, and there also is pending before the board an application
of an existing bank or trust company to change its place of business to serve the same
territory which the board determines should be approved, and the board
determines that there is public need for only one bank or trust company to serve the
territory, the board may approve the application of the existing bank or
trust company to
change its place of business and disapprove the application or
applications for incorporation and authority to do business.
History: L. 1947, ch. 102, § 104; L. 1975, ch. 44, § 37; L.
1977, ch. 45, § 4; L. 1989, ch. 48, § 47; July 1.
9-1802.Investigation and examination; approval or disapproval of application;
two or more applications to serve same territory.
Upon the filing of any such application with the state banking board, such board shall
make, or cause to be made, a careful examination and investigation
concerning: (a) The financial standing, general business experience and
character of the organizers and incorporators; (b) the character,
qualifications and experience of the officers of the proposed bank or
trust company; (c) the public need for the proposed bank or trust company
in the community wherein it is proposed to locate the same and whether
existing banks or trust companies are meeting such need; (d) the prospects
for success of the proposed bank or trust company. If the board
shall determine any of such matters unfavorably to the applicants, the
application shall be disapproved, but if not, then the application shall
be approved. The board shall not make membership in any federal
government agency a condition precedent to the granting of any
application for incorporation and authority to do business.
In the event two or more applications for incorporation and authority
to do business seeking to serve the same general territory are pending
before the board, and the board determines all of such matters favorably
in two or more such applications, the board may approve the application
of the proposed bank or trust company which it determines will best serve the needs of
the territory sought to be served. If one or more such applications
seeking to serve a territory are pending before the board, and the board
has determined all of such matters favorably in one or more of such
applications, and there also is pending before the board an application
of an existing bank or trust company to change its place of business to serve the same
territory which the board determines should be approved, and the board
determines that there is public need for only one bank or trust company to serve the
territory, the board may approve the application of the existing bank or
trust company to
change its place of business and disapprove the application or
applications for incorporation and authority to do business.
History: L. 1947, ch. 102, § 104; L. 1975, ch. 44, § 37; L.
1977, ch. 45, § 4; L. 1989, ch. 48, § 47; July 1.