§ 5-1005. Establishment of branch -- Prerequisites

Latest version.

   (a) Notice of intention. -- Except as provided in subsection (b) of this section, a banking institution that proposes to establish a branch in this State or in another state shall:

   (1) File with the Commissioner, at least 30 days before the intended opening date, a notice of intention to open a branch; and

   (2) Submit to the Commissioner any information the Commissioner requires in order to evaluate the proposed branch.

(b) Expedited notice. -- A well-capitalized banking institution with a composite CAMELS rating of one or two may establish a branch in this State by filing with the Commissioner an expedited notice, in the form that the Commissioner requires, at least 30 days before the intended opening date.

HISTORY: 1995, ch. 213, § 2; 2008, ch. 293; 2009, ch. 741.

                    
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