Section 384-B:3 Bank Holding Company Affiliates.
No bank holding company shall directly or indirectly acquire ownership or control of any voting stock of any bank or national bank, if upon such acquisition (1) the bank holding company would have more than 12 affiliates in this state; or (2) the dollar volume of the total deposits, time, savings, and demand in this state of the bank holding company and all its affiliates would exceed 30 percent of the dollar volume of total deposits, time, savings, and demand in this state of all banks, national banks, and federal savings and loan associations in this state as determined by the board on the basis of the most recent annual deposit reports of the Federal Deposit Insurance Corporation and available at the time of acquisition.
Source. 1963, 188:1. 1979, 123:4. 1987, 155:3. 1990, 115:14. 1995, 67:3; 304:4, 7. 1996, 288:7. 2000, 236:4, eff. July 31, 2000.