(a) (1) Any state bank may apply for authority to change its place of business from one (1) municipality to another by filing with the Bank Commissioner, as an amendment to its articles of incorporation, two (2) copies of a resolution to that effect, and such additional information which the commissioner may require.
(2) The resolution must be adopted upon the affirmative vote of the holders of at least a simple majority of the outstanding shares entitled to vote thereon, at any annual or special meeting of the stockholders.
(3) Both copies of the resolution shall be signed by the president or a vice president.
(4) One (1) of the copies of the resolution shall be retained by the commissioner. The other copy, if the commissioner and State Banking Board approve the amendment, shall be returned with the commissioner's endorsement of approval thereof.
(b) The amendment shall become effective when it has been approved by the commissioner and the board.
(c) Each application for authority to change a state bank's place of business shall be accompanied by a fee as shall be set by State Bank Department regulation, which fee shall be paid to the department.
Section: Previous 23-48-302 23-48-303 23-48-304 23-48-305 23-48-306 23-48-307 23-48-308 23-48-309 23-48-310 23-48-311 23-48-312 23-48-313 23-48-314 23-48-315 NextLast modified: November 15, 2016