A.This article does not apply to the following persons or transactions of the type specified:
1.A registered dealer who acts as an underwriter or member of a selling group in a public offering of the voting securities of a financial institution or controlling person.
2.A person who acts as proxy for the sole purpose of voting at a designated meeting of the security holders of a financial institution or controlling person.
3.A person who acquires control of a financial institution or controlling person by devise or descent, except that the person shall divest himself of such control not more than two years after the date of the acquisition unless the acquisition of control is approved by the deputy director pursuant to this article.
4.A person who acquires control of a financial in
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A. This article does not apply to the following persons or transactions of the type specified:
1. A registered dealer who acts as an underwriter or member of a selling group in a public offering of the voting securities of a financial institution or controlling person.
2. A person who acts as proxy for the sole purpose of voting at a designated meeting of the security holders of a financial institution or controlling person.
3. A person who acquires control of a financial institution or controlling person by devise or descent, except that the person shall divest himself of such control not more than two years after the date of the acquisition unless the acquisition of control is approved by the deputy director pursuant to this article.
4. A person who acquires control of a financial institution or controlling person as a personal representative, custodian, guardian or conservator appointed by a court or as a trustee, a receiver or other officer appointed by a court.
5. A pledgee of a voting security of a financial institution or controlling person who does not have the right, as pledgee, to vote the voting security.
6. A person who acquires control of a financial institution or controlling person through the collection of a debt previously contracted in good faith, except that the person shall divest himself of such control not more than two years after the date of the acquisition unless the acquisition of control is approved by the deputy director pursuant to this article.
B. A person or transaction that the deputy director by rule or order exempts as not being necessary or appropriate in the public interest or for the protection of a financial institution or the depositors, beneficiaries, creditors or shareholders of the financial institution is exempt from this article.
C. A person, before filing an application for approval pursuant to this article, may request in writing a determination from the deputy director as to whether the person, on consummation of a proposed transaction, will be in control. On such a request, the deputy director may enter an order that the person will not be in control, in which event the proposed transaction is an exempt transaction under this article.
D. This article does not supersede, rescind or modify any provision, requirement or condition of this title that would otherwise be applicable to any acquisition of a financial institution by a financial institution holding company. This article does not supersede, rescind or modify any provision, requirement or condition that would otherwise be applicable to any merger of financial institutions or the acquisition or sale of all or substantially all of the assets of the financial institution, except that an approval obtained pursuant to this article satisfies the requirements of chapter 1, article 4 of this title.