Current with changes from the 2024 Legislative Session
Section 5-1005 - Establishment of branch - Prerequisites(a) Except as provided in subsection (b) of this section, a banking institution that proposes to establish a branch in this State or in another state shall:(1) File with the Commissioner, at least 30 days before the intended opening date, a notice of intention to open a branch; and(2) Submit to the Commissioner any information the Commissioner requires in order to evaluate the proposed branch.(b) A well-capitalized banking institution with a composite CAMELS rating of one or two may establish a branch in this State by filing with the Commissioner an expedited notice, in the form that the Commissioner requires, at least 30 days before the intended opening date.