SEC. 81-14-77. Licensing.

A newly chartered savings bank shall be entitled to a license fee to operate upon payment to the department of the appropriate license fee as prescribed by the commissioner and upon evidence presented to the commissioner of the following:

(a) Capable, efficient and equitable management;

(b) Organization of the savings bank pursuant to law;

(c) Completion of the organization of the savings bank; and

(d) Passage of final inspection by the commissioner or his representative.

SOURCES: Laws, 1992, ch. 489, Sec. 18, eff from and after passage (approved May 8, 1992).

1997 Amendment

Reenacted: July 1, 1997.

SOURCE: 1997 Laws, Chapter 364, Sec. 18, HB389, Effective July 1, 1997.