§ 11-109-606 — Informal enforcement authority

The banking board, or the
commissioner if so authorized by the banking board, shall have authority to initiate
informal actions to enforce the provisions of this article. In this regard the banking
board or the commissioner may, in its or the commissioner's discretion, enter into
written agreements such as a memorandum of understanding with, or an informal
commitment letter from, or a strongly worded letter of reprimand to any trust
company or any executive officer, director, employee, agent, or other person
participating in the conduct of the affairs of the trust company.

Legislative History

Source: L. 2003: Entire article added with relocations, p. 1196, � 3, effective July 1.