R331-17-1. Authority, Scope, and Purpose

Related Notices
- No. 42149 (5-year Review): Rule R331-17. Publication and Disclosure of Acquisition of Control, Merger, or Consolidation Applications to the Department of Financial Institutions
- No. 36847 (5-year Review): Rule R331-17. Publication and Disclosure of Acquisition of Control, Merger, or Consolidation Applications to the Department of Financial Institutions

Latest version.

(1) This rule is issued pursuant to Sections 7-1-301, 7-1-703, 7-1-704 and 7-1-705.

(2) This rule applies to all applicants to the department for change of control, acquisition of, merger, or consolidation with any financial institution chartered by the state.

(3) Public disclosure by newspaper publication of applications to the department for change of control is necessary to increase the amount of timely and useful information available to the public thereby increasing the department's sources of information in connection with these applications and enhancing its ability to prevent dishonest or unqualified persons from acquiring control of state chartered financial institutions.

                    
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