45-14-112 - Revocation of charter Grounds.
45-14-112. Revocation of charter Grounds.
(a) The commissioner may revoke any savings bank charter issued under this chapter if the commissioner finds, after notice and an opportunity for a hearing, that the savings bank willfully and consistently has been conducting its business in a manner that is substantially and materially inconsistent with the objective of this chapter, or if in violation of this chapter or any regulations promulgated thereunder.
(b) The commissioner shall revoke any savings bank charter issued under this chapter if the commissioner finds, after notice and an opportunity for a hearing, that the savings bank is violating § 45-14-103(g).
(c) The commissioner shall issue regulations providing for the voluntary surrender of savings bank charters issued under this chapter.
[Acts 1991, ch. 177, § 13.]