7-1-809 - Articles of incorporation -- Amended or restated articles of incorporation -- Prerequisites to filing.
7-1-809. Articles of incorporation -- Amended or restated articles of incorporation-- Prerequisites to filing.
(1) The Division of Corporations and Commercial Code may not file articles ofincorporation that state that the purpose of the corporation is to transact business as a depositoryinstitution or to hold a corporation that will transact business as a depository institution until thedepartment certifies that it has reviewed and does not object to the articles of incorporation.
(2) A corporation whose articles of incorporation have been filed with the Division ofCorporations and Commercial Code pursuant to Subsection (1) may not transact business as adepository institution without authorization from the department in accordance with Section7-1-705.
(3) The Division of Corporations and Commercial Code may not file articles ofamendment or articles of restatement of a depository institution or depository institution holdingcompany until the department has certified that it has reviewed and does not object to the articlesof amendment or articles of restatement.
Enacted by Chapter 182, 1996 General Session