§ 19-2-12 - Relocation of branches.
SECTION 19-2-12
§ 19-2-12 Relocation of branches. –(a) Any financial institution or credit union may relocate a branch uponwritten application to the director or the director's designee, provided thatthe relocated branch is:
(1) To be located within the same city or town as theexisting branch; or
(2) To be located within a one mile radius of the existingbranch; and
(3) The existing branch will be closed upon constructionand/or occupancy of the relocated branch.
(b) The director or the director's designee shall review allwritten applications for relocation of branches and may approve theseapplications at his or her discretion.