§ 54B-246 – Supervision by Secretary of Commerce.
54B-246. Supervision by Secretary of Commerce. (a) In addition to any and all other powers, duties and functions vested in the Secretary of Commerce under the provisions of this Article, and for the protection of member institutions and the general public, the Secretary of Commerce shall have general control and supervision over all mutual deposit […]
§ 54B-236 – Definitions.
54B-236. Definitions. The term "institution" as used in this Article shall mean savings and loan associations organized or operated under the provisions of this Chapter, or credit unions organized or operated under the provisions of Articles 14A to 14L of Chapter 54 of the General Statutes, or any institution that is eligible for insurance by […]
§ 54B-237 – Organization of a mutual deposit guaranty association.
54B-237. Organization of a mutual deposit guaranty association. (a) Any number of institutions, not less than 25, may become incorporated as a mutual deposit guaranty association without capital stock subject to the limitations prescribed in this Article. A mutual deposit guaranty association shall be governed by a board of directors or board of trustees of […]
§ 54B-238 – Examination and certification by Secretary of Commerce.
54B-238. Examination and certification by Secretary of Commerce. (a) Upon receipt from the Secretary of State of a copy of the articles of incorporation of a proposed guaranty association, the Secretary of Commerce shall at once examine all the facts connected with the formation of the proposed corporation. If the articles of incorporation are correct […]