6-141. Definitions In this article, unless the context otherwise requires: 1. " Acquisition of control" means any transaction whereby a person obtains, directly or indirectly, control of a bank, trust company, savings and loan association or controlling person. 2. " Control" means direct or indirect ownership of or power to vote twenty-five percent or more […]
6-142. Unlawful control A person shall not directly or indirectly acquire control of a bank, trust company, savings bank, savings and loan association or controlling person, except with the approval of the deputy director or as otherwise allowed by this article.
6-143. Exempt persons and transactions A. This article shall not apply to the following persons or transactions of the type specified: 1. A person who controls a bank, trust company or savings and loan association or controlling person on the date this article becomes law and who continues to control such bank, trust company, or […]
6-144. Acquisition of control; approval of deputy director A person shall not, directly or indirectly, make a tender offer for, request or invite a tender offer for, offer to exchange securities for or acquire in the open market or otherwise, any voting security or any security convertible into a voting security of a bank, trust […]
6-145. Application for approval A. An application for approval of the deputy director shall be in writing in such form as the deputy director may prescribe and shall be accompanied by such information, data and records as the deputy director may require. For such purpose the deputy director shall adopt rules prescribing the form and […]
6-146. Material change of fact; filing amended statements If any material change occurs in the facts set forth in the application, or if for any other reason the acquiring party desires to amend such application, an amendment setting forth such change, together with copies of all documents and other material relevant to such change, shall […]
6-147. Denial of application; grounds A. With respect to the proposed acquisition of control of a bank, trust company, savings and loan association or controlling person, an application shall be denied if the deputy director finds any of the following: 1. That the financial condition of any person who would acquire control is such as […]
6-148. Failure to act on application as approval A. Notwithstanding any other provision of this article, any application for approval to acquire control of a bank, trust company, savings and loan association or controlling person that is not denied or approved by the deputy director within a period of sixty days after such application is […]
6-149. Determination of control of one person by another; hearing; notice Before determining whether a person controls another person or before denying or approving an application for approval to acquire control of a bank, trust company, savings and loan association or controlling person the deputy director may hold a hearing. Notice of such hearing shall […]
6-150. Appointment of deputy director as agent for service of process; forwarding of process; consent to jurisdiction Any person who is not a resident of this state, domiciled in this state or authorized to do business in this state and who files an application is deemed to have: 1. Consented to the jurisdiction of the […]
6-151. Injunctions If it appears to the deputy director that any person has committed or is about to commit a violation of any provision of this article or of any rule or order of the deputy director, the deputy director may apply to the superior court for an order enjoining such person from violating or […]
6-153. Acquisition of voting securities in violation of article; limitation on rights as shareholder; injunction A. With respect to any voting security acquired in violation of this article or any rule or order of the deputy director, a person shall not be entitled to vote or give a written proxy or consent for a period […]
