After a de novo charter has been granted, the directors may call for the payment of the subscriptions in full within thirty days after the date of the notice that the charter has been granted. The bank shall not issue any shares until the bank has paid in full, in cash, the par value and the pro rata portion of the paid-in surplus specified in the de novo charter.
Source: L. 2003: Entire article added with relocations, p. 1088, § 3, effective July 1. L. 2013: Entire section amended, (SB 13-154), ch. 282, p. 1480, § 43, effective July 1.
Editor's note: This section is similar to former § 11-3-111 as it existed prior to 2003.