§ 12101. Application (a) Application. A corporation, limited liability company, limited partnership, limited liability partnership, or the organizers of the entity shall file with the Commissioner an application for permission to conduct business as an investor-owned financial institution. The application shall contain the following information: (1) The name by which the financial institution is to […]
§ 12102. Issuance of certificate of general good; refusal to issue certificate of general good (a) Certificate of general good. The Commissioner shall determine whether or not a certificate of general good shall be granted to organize a financial institution under this chapter and shall make the decision in accordance with the requirements of chapter […]
§ 12103. Requirements to commence business; paid-in minimum capital; examination; certificate of authority (a) At the time the certificate of general good is issued, the Commissioner shall issue an order granting permission to organize that shall set forth the minimum amount of paid-in capital that the financial institution will be required to have to begin […]
§ 12104. Failure to commence business (a) If a financial institution authorized to commence business under this chapter does not commence business within two years from the filing of its organizational documents in the Office of the Secretary of State, its right to do business shall lapse. (b) Notwithstanding the time limitation in subsection (a) […]
§ 12105. Continuance of organization The organizational documents shall provide for continuance of a financial institution despite the death, dissolution, departure, or incapacity of any investor. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
