81-14-123 - Rules, regulations and reports of voluntary dissolution.
§ 81-14-123. Rules, regulations and reports of voluntary dissolution.
(1) The commissioner shall promulgate rules and regulations governing the dissolution and liquidation of state savings banks.
(2) Upon completion of liquidation, the liquidators shall file with the commissioner a final report and accounting of the liquidation. The approval of the report by the commissioner shall operate as a complete and final discharge of the liquidators, the board of directors and each member or stockholder in connection with the liquidation of the savings bank. Upon approval of the report, the commissioner shall issue a certificate of dissolution of the savings bank and shall record such certificate in the manner required by this chapter for the recording of certificates of incorporation. Upon such recording, the dissolution shall be effective.
Sources: Laws, 1992, ch. 489, § 37; reenacted without change, Laws, 1997, ch. 364, § 37; reenacted without change, Laws, 2001, ch. 457, § 37, eff from and after July 1, 2001.