§ 12101. Application
(a) Application. A corporation, limited liability company, limited partnership, limited liability partnership, or the organizers of the entity shall file with the Commissioner an application for permission to conduct business as an investor-owned financial institution. The application shall contain the following information:
(1) The name by which the financial institution is to be known;
(2) The purpose for which it is to be formed, including whether a certificate of general good is sought to conduct business as a universal financial institution or special purpose financial institution;
(3) The city or town within this state where the institution's principal office is to be located;
(4) The proposed amount of its initial capital;
(5) The names, addresses, and occupations of the organizers of the institution, together with a statement as to the character, reputation, and financial responsibility and competence of such persons;
(6) Documents which set forth the proposed institution's organizational structure and business plan, including:
(A) A copy of the organizational documents of the applicant.
(B) The names, addresses, and occupations of the organizers of the institution and the names, addresses, and occupations of the directors who will be voted on at the initial meeting, together with a statement as to the character, reputation, and financial responsibility of each. A list of the names, addresses, and official positions of the persons who are to be responsible for the conduct of the affairs of the applicant, including all members of the governing body, any committees and the executive officers; a statement as to the character, reputation, financial responsibility, and competence and experience in banking and business of such persons and such disclosure and conflict of interest statements as required.
(C) A financial plan which includes a three-year projection of the initial operating results anticipated and a description of the proposed method of marketing the plan, and a statement as to the sources of initial capital as well as any other sources of funding.
(7) The reasons that an institution of the type specified in subdivision (2) of this subsection is needed in the proposed location.
(8) Copies of any application filed with any other supervisory agency.
(9) Any additional information the Commissioner may require. The Commissioner may waive any requirements that do not apply.
(b) Publication of Notice. After determining that the application required by subsection (a) of this section is complete, the Commissioner shall advise the organization or the organizers of the entity to publish or give any notice that will be required by the Commissioner under section 11702 of this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)