Section 13-12-114 - Investigation and examination by commissioner(a) Upon receiving the articles of incorporation, the application for a charter and other information required by the commissioner, the commissioner shall make a careful investigation and examination of the following: (i) The character, reputation, financial standing and ability of the incorporators;(ii) The character, financial responsibility, banking or other financial experience and business qualifications of those proposed as officers and directors; and(iii) The application for a charter, including the adequacy and plausibility of the business plan of the special purpose depository institution and whether the institution has offered a complete proposal for compliance with the provisions of this chapter.(b) The commissioner shall submit the results of his investigation and examination at the public hearing on the charter application and shall be subject to cross examination by any interested party. No relevant information shall be excluded by the board as hearsay.Added by Laws 2019 , ch. 92, § 2, eff. 10/1/2019.