(1) The board of directors of an association, after notice to the Director of the Department of Consumer and Business Services, may discontinue the operation of a branch facility. The association shall keep the director informed in the matter and deliver to the director a certificate of the date operation of the branch facility is discontinued.
(2) The director may for good cause revoke approval of the operation of a branch facility by written notice to the association. The notice shall fix a reasonable time after which the association shall cease to operate the branch facility. [1975 c.582 §125]
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