§ 19-2-2. Contents of agreement to form.
(a) Any agreement to form shall state that the subscribers to the agreement associate
themselves with the intention of forming a financial institution pursuant to this
title to transact business authorized by this title within this state and shall specify:
(1) The name by which the financial institution shall be known, which shall be consistent
with words identified with those of financial institutions.
(2) The purpose for which it is formed.
(3) The address at which its business is to be tran
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§ 19-2-2. Contents of agreement to form.
(a) Any agreement to form shall state that the subscribers to the agreement associate
themselves with the intention of forming a financial institution pursuant to this
title to transact business authorized by this title within this state and shall specify:
(1) The name by which the financial institution shall be known, which shall be consistent
with words identified with those of financial institutions.
(2) The purpose for which it is formed.
(3) The address at which its business is to be transacted.
(4) For stock-owned companies, the amount of its capital stock, which shall in no event
be less than three million dollars ($3,000,000), and the number of shares into which
the capital stock is to be divided.
(5) Whether the financial institution intends to exercise trust powers.
(b) Each agreement to form shall contain the name, residence, and post office address
of each subscriber, and, for stock-owned companies, the number of shares of stock
that each subscriber agrees to take.