TITLE 19
Financial institutions

CHAPTER 19-2
Creation and Expansion

SECTION 19-2-1


§ 19-2-1 Agreement to form financial institution.

Fifteen (15) or more persons, all of whom shall be citizens and residents of this state, who associate themselves by a written agreement to form, may, upon compliance with the provisions of this chapter, become a financial institution, with all the powers, rights, and privileges, and subject to all of the duties, restrictions, and liabilities set forth in this title and in all laws relating to financial institutions.

History of Section.
(P.L. 1995, ch. 82, § 39.)