The banking board, or the commissioner if so authorized by the banking board, shall have authority to initiate informal actions to enforce the provisions of this article. In this regard the banking board or the commissioner may, in its or the commissioner's discretion, enter into written agreements such as a memorandum of understanding with, or an informal commitment letter from, or a strongly worded letter of reprimand to any trust company or any executive officer, director, employee, agent, or other person participating in the conduct of the affairs of the trust company.
Source: L. 2003: Entire article added with relocations, p. 1196, § 3, effective July 1.
Editor's note: This section is similar to former § 11-23-119.5 as it existed prior to 2003.