81-7-13 - Discontinuance and removal of branch banks.
§ 81-7-13. Discontinuance and removal of branch banks.
No branch bank in this state may be discontinued or abandoned without the consent in writing of the commissioner first obtained. By and with such consent first obtained, branch banks may be moved from one municipality to another within the restrictions provided in this chapter as to branching de novo. Any established unit bank (branch banks not included) may move from one municipality to a larger municipality, according to the latest federal census, within the county of its domicile, with the written consent and approval of the commissioner. However, any proposed movement of an established unit bank shall be subject to each and every restriction applicable to the location of branch banks as provided in this chapter, and, before giving any such consent and approval, the commissioner shall give to each bank in the county ten (10) days' notice in writing of the application of any bank to move its domicile.
Sources: Codes, 1942, § 5232; Laws, 1934, ch. 146; Laws, 1936, ch. 165; Laws, 1986, ch. 469, § 5, eff from and after July 1, 1986.