§ 13-2-301 — Requirements as to capital

(a) The capital stock of each bank organized under this
act shall be subscribed for as fully paid stock. No bank shall
organize with a capital stock less than five million dollars
($5,000,000.00).
(b) No bank shall commence business until the full amount
of its authorized capital is subscribed and all capital stock is
fully paid in. No bank may organize without a paid up surplus
fund of at least twenty percent (20%) of its legally authorized
capital stock, and undivided profits in sufficient amount for
the expense of operation the first year as determined by the
state banking commissioner.