§ 13-5-421 — Change in place of business

(a) Any supervised trust company may apply in writing to
the commissioner for permission to change its place of business
to any other municipality in the state. The application shall be
accompanied by a fee established by rule of the commissioner and
shall state the reasons for the proposed change, be signed by a
majority of its board of directors and accompanied by the
written assent to the application by the stockholders owning at
least two-thirds (2/3) of its stock. The application fee shall
be deposited by the commissioner with the state treasurer and
credited to the financial institutions administration account.
Expenditures shall be made from the account by warrants drawn by
the state auditor, upon vouchers issued and signed by the
director or commissioner. Funds from the account shall be
expended only to carry out the duties of the commissioner under
this chapter.
(b) If the commissioner finds that the change of location
may be desirable and in the supervised trust company's best
interests, he shall grant a certificate authorizing the change
of location.