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This entry was published on 2014-09-22
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SECTION 28
Change of location; change of designation of principal office; approval or refusal; certificate
Banking (BNK) CHAPTER 2, ARTICLE 2
§ 28. Change of location; change of designation of principal office;
approval or refusal; certificate. Upon receipt by the superintendent of
a written application in proper form from any banking organization or
foreign corporation for leave to change its place or one of its places
of business to another place or from any banking organization for leave
to change the designation of its principal office to a branch office and
to change the designation of one of its branch offices to its principal
office, the superintendent shall, if he or she shall be satisfied that
such change may be permitted under the terms of this chapter and that
there is no reasonable objection to such change, execute and issue a
certificate under the official seal of the department authorizing such
change and specifying the date on or after which such change may be
made, and shall cause the original of such certificate to be transmitted
to the applicant, a copy to be filed in the office of the department and
a copy to be filed in the office of the clerk of the county in which the
principal office of the applicant is located, provided that if the
proposed principal office is in a different county than the county in
which the principal office is located at the time of the filing of the
application, the superintendent shall cause copies to be filed in the
offices of the clerks of both counties. If the superintendent shall be
satisfied in any case that such change is undesirable or inexpedient, he
or she shall refuse such application and notify the applicant of such
determination.