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§ 7-1-511. Proposal and Adoption of Amendments

An amendment of the articles shall be proposed by adoption of a resolution by the board of directors directing that it be submitted to a vote at a meeting of shareholders. The resolution proposing an amendment or amendments shall contain the language of each amendment by setting forth in full the articles as they would […]

§ 7-1-512. Execution, Contents, Filing, and Effect of Articles of Amendment

Upon the adoption of an amendment, articles of amendment shall be signed by two duly authorized officers of the bank or trust company under its seal and shall contain: The name of the bank or trust company; The street address and county of its main office; Whether it was incorporated with banking or trust powers […]

§ 7-1-514. Approval or Disapproval of Articles of Amendment

Upon receipt of the articles of amendment, the department shall conduct such investigation as it may deem necessary to determine: That the articles of amendment and supporting items satisfy the requirements of this chapter; Where the amendment would grant new powers or status to a bank or trust company, that the criteria for the granting […]

§ 7-1-515. Issuance of Certificate of Amendment

If all the fees and charges required by law have been paid and, in the case of a change of name, if the proposed new name of the bank or trust company continues to be reserved or is available on the records of the Secretary of State, upon the receipt by the Secretary of State […]

§ 7-1-516. Effect of Certificate of Amendment

As of the issuance of the certificate of amendment by the Secretary of State, each amendment shall become effective and the articles shall be deemed to be amended accordingly. The certificate of amendment shall be conclusive evidence of the performance of all conditions required by this chapter for amendment of articles, except as against the […]