50-4-712. Experts. (1) The commissioner or the attorney general, or both, may contract with experts as reasonably necessary to:
(a) determine whether to approve a conversion transaction generally;
(b) perform an independent valuation of fair market value of the public assets of the transferor;
(c) evaluate the impact of the conversion on the affected community;
(d) determine whether there has been due diligence by the transferor in evaluating the proposed conversion transaction; and
(e) determine the existence of any conflicts of interest.
(2) If the commissioner or attorney general contracts for expert assistance under subsection (1), the transferor and the transferee shall each pay half of the costs reasonably incurred by the commissioner or the attorney general for the expert's services.
History: En. Sec. 10, Ch. 214, L. 2005.