§ 11-109-301. Incorporators
Five or more individual incorporators desiring to organize a trust company shall file with the banking board an application for charter on the form prescribed by the banking board, together with all other documents required by section 11-109-305, all of which instruments shall be duly signed by each of the incorporators and sworn to before […]
§ 11-109-302. Application Fee
Each application for charter shall be accompanied by an application fee established by the banking board pursuant to section 11-102-104 (11). The fee may be refunded to the incorporators if the application is withdrawn prior to the date set for public hearing. Source: L. 2003: Entire article added with relocations, p. 1185, § 3, effective […]
§ 11-109-303. Assessments
The banking board shall annually establish fees and assessments pursuant to section 11-102-104 (11). Assessments may be made more frequently than annually at the discretion of the banking board. For the fiscal year beginning July 1, 1992, and for each fiscal year thereafter, the banking board shall establish its annual assessment to be collected at […]
§ 11-109-304. Capital
The banking board shall establish by rules the capital standards and guidelines, the methods for measuring capital, and the definitions of “capital”, “capital adequacy”, “capital inadequacy”, and other related terms for trust companies subject to this article, which may differ for specific purposes. In promulgating such rules, the banking board shall consider all relevant factors, […]
§ 11-109-305. Application for Charter
After the capital stock has been fully subscribed, the incorporators shall make application to the banking board for a charter. The incorporators shall submit to the banking board the following: The proposed articles of incorporation in such form as the banking board, pursuant to rules, shall prescribe and as shall be acceptable to the secretary […]
§ 11-109-306. Procedure for Granting or Denying Charter
Within sixty days following the filing of the completed application for charter, the commissioner shall make or cause to be made a careful investigation to determine that the following requirements have been met: That the applicant has proceeded in a lawful manner; That the name is not deceptively similar to that of another trust company […]