§ 13-12-112 — Procedure upon filing application

(a) Upon receiving an application for a special purpose
depository charter, the commissioner shall notify the applicants
in writing within thirty (30) calendar days of any deficiency in
the required information or that the application has been
accepted for filing. When the commissioner is satisfied that all
required information has been furnished, he shall notify the
chairman of the board who shall establish a time and place for a
public hearing which shall be conducted not less than sixty (60)
days, nor more than one hundred fifty (150) days, after notice
from the commissioner to the applicants that the application is
in order.
(b) Within thirty (30) days after receipt of notice of the
time and place of the public hearing, the applicants shall cause
notice of filing of the application and the hearing to be
published at the applicants' expense in a newspaper of general
circulation within the county where the proposed special purpose
depository institution is to be located. Publication shall be
made at least once a week for three (3) consecutive weeks before
the hearing, stating the proposed location of the special
purpose depository institution, the names of the applicants for
a charter, the nature of the activities to be conducted by the
proposed institution and other information required by rule. The
applicants shall furnish proof of publication to the
commissioner not more than ten (10) days prior to the hearing.
The commissioner shall send notice of the hearing to state and
national banks, federal savings and loan associations and other
financial institutions in the state and federal agencies who
have requested notice from the commissioner.