SF0005            Banking revisions.

Sponsored by: Joint Minerals, Business & Economic Development Interim Committee

AN ACT relating to banks, banking and finance; authorizing various fees to be established by rule and regulation; increasing the number of deputy commissioners the state banking commissioner may employ; increasing minimum capital stock requirements for organization of banks; modifying requirements concerning bank director oaths and sworn financial statements; increasing the minimum value at which certain bank acquired property must be appraised by a certified or licensed real estate appraiser; modifying indebtedness restrictions; modifying requirements related to amendments to articles of incorporation; modifying and clarifying requirements related to formation of trust companies; permitting an out-of-state trust company to operate a trust service office in this state as specified; modifying provisions related to limited liability companies; making conforming amendments; and providing for an effective date.

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