Section 396:1 Regulation.
The bank commissioner upon the application of the board of trustees or directors of any institution under his supervision, may regulate the time, amount, and manner of payment and withdrawal of all classes of deposits; the reception of all classes of deposits; the investment of assets within statutory limits; the amount of reserve without limitation otherwise imposed; the borrowing of money; the pledge of assets; the valuation of assets; the collection and payment of accounts; the payment of dividends; the employment and compensation of personnel; the retirement of shares; and any other business of such institution, whenever and during such time and to the extent that he deems such action necessary for the protection of its depositors and other creditors. Regulations hereunder shall be by written order signed by the commissioner and filed in his office. Copies thereof signed by the commissioner shall be served as hereinafter provided. The commissioner may change, cancel, or terminate any such orders from time to time as he deems the interest of such depositors or creditors require.
Source. 1933, 114:1. RL 317:1.