Codified Laws

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51A-3-1      Corporation laws applicable to banks.
51A-3-1.1      Bank organized as limited liability company--Rules.
51A-3-2      Articles of incorporation or articles of organization--Content--Name of bank--Capital stock or members' equity.
51A-3-3      Incorporators of bank.
51A-3-4      Minimum capital.
51A-3-5      Sale price of original stock issue or original issue of members' equity--Excess credited to surplus.
51A-3-6      Transfers to surplus.
51A-3-7      Applications--Deposit for cost of processing.
51A-3-8      Acceptance of application for charter.
51A-3-9      Conditions to be considered in ruling on application.
51A-3-10      Hearing on application.
51A-3-11      Repealed.
51A-3-12      Endorsement and filing of approved articles--Notice of disapproval.
51A-3-13      Subscription of shares--Minimum collection--Refund on disapproval of application.
51A-3-14      Call by incorporators for full payment of subscriptions--Issuance of certificate of authority by director--Commencement of business within one year.
51A-3-15      Applications for branch banks and detached drive-in facilities--Applicable provisions.
51A-3-16      Preferred stock, capital notes, and debentures--Director approval of issuance--Terms of issue--Director approval of retirement or payment.
51A-3-17      Preferred stock, capital notes, and debentures outstanding--Restrictions on dividends.
51A-3-17.1      Dividends--Definition.
51A-3-18      Dividends--Restrictions and requirements for declaration.
51A-3-19      Approval of director required for unusually large dividends.
51A-3-20      Recovery of dividends paid when capital impaired.
51A-3-21      Net profits defined.
51A-3-22      Amendment of articles of incorporation--Changes requiring approval of director--Filing of amendments.
51A-3-23      Extension of charter.
51A-3-24      Reporting transfers of stock.
51A-3-25      Change in control of bank.
51A-3-26      Lien on shares--Enforcement--Marking of certificates.
51A-3-27      Purchase or purchase money loans on security of own stock prohibited--Exception.
51A-3-28      Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien.
51A-3-29      Repealed.
51A-3-30      Adoption and approval of bylaws.
51A-3-31      Indemnification of officers, directors, or employees.
51A-3-32      Board of directors--Number of members--Citizenship requirements--Election.
51A-3-33      Removal of directors--Vote required.
51A-3-34      Meetings of directors.
51A-3-35      Election of officers--Terms--Vacancies.
51A-3-36      Names of officers and information forwarded to director--Vacancy on refusal to confirm.
51A-3-37      Bonds of officers and employees.

51A-3-38      Insurance protection.
51A-3-39      Amount of bonds and insurance prescribed by bank directors--Approval by director of division.

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