§ 19-8-4 - Contents of application.
SECTION 19-8-4
§ 19-8-4 Contents of application. –Except as otherwise provided, an application filed pursuant to this sectionshall contain the following information:
(1) The identity, personal history, business background, andexperience of each person by whom or on whose behalf the acquisition is to bemade, including the person's material business activities and affiliationsduring the past five (5) years, and a description of any material pending legalor administrative proceedings in which he or she is a party, and any pending orprior criminal indictment or conviction of the person by a state or federalcourt;
(2) A statement of the assets and liabilities of each personby whom or on whose behalf the acquisition is to be made, as of the end of thefiscal year for each of the five (5) years immediately preceding the date ofthe application, together with related statements of income and source andapplication of funds for each of the fiscal years then concluded, all preparedin accordance with generally accepted accounting principles consistentlyapplied, and an interim statement of the assets and liabilities for each suchperson, together with related statements of income and source and applicationof funds, as of a date not more than ninety (90) days prior to the date of thefiling of the application;
(3) The terms and conditions of the proposed acquisition andthe manner in which the acquisition is to be made;
(4) The identity, source, and amount of the funds or otherconsideration used or to be used in making the acquisition, and if any part ofthese funds or other consideration has been or is to be borrowed or otherwiseobtained for the purpose of making the acquisition, a description detailing thetransaction, the names of the parties, and any arrangements, agreements, orunderstandings with these persons;
(5) Any plans or proposals which any acquiring party makingthe acquisition may have to liquidate the regulated institution, to sell itsassets or merge it with any company, or to make any other major change in itsbusiness or corporate structure or management;
(6) The identification of any person employed, retained, orto be compensated by the acquiring party, or by any person on his or herbehalf, to make solicitations or recommendations to stockholders for thepurpose of assisting in the acquisition, and a description of the terms of theemployment, retainer, or arrangement for compensation;
(7) Copies of all invitations or tenders or advertisementsmaking a tender offer to stockholders for purchase of their stock to be used inconnection with the proposed acquisition;
(8) Any additional information in the form that the directoror the director's designee may require;
(9) Evidence that a majority of the shares of stock entitledto vote of the financial institution whose shares of voting stock are to beacquired have approved the change of control at a meeting called for thatpurpose or in writing.