7-1-311. Moratoriums on applications for new depository institutions or branches.
The commissioner may establish, upon finding that applicable financial and economic
conditions require such action, a moratorium on accepting or acting upon applications to conduct
a business of depository institutions subject to the jurisdiction of the department or to establish
new branches or offices of institutions subject to the jurisdiction of the department. The
moratorium may apply to the entire state or to such community or communities or other market
area or areas as the commissioner finds appropriate. No such period shall extend for a period
longer than one year, unless the commissioner finds that the public interest requires renewal of the
period for an additional period not to exceed one year.
Enacted by Chapter 16, 1981 General Session
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Last revised: Thursday, May 28, 2009