Any fifteen (15) or more qualified natural persons, all of whom shall be bona fide residents of this state and among whom each of the congressional districts in the state shall have at least one (1) representative and who desire to associate themselves for the purpose of establishing and operating a development finance corporation, may subscribe, acknowledge, and file with the Bank Commissioner for preliminary approval proposed articles of incorporation, in duplicate, as authorized by ยง 15-4-906.
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