The board shall approve or disapprove the application. In the event such application is approved, the board must make the following findings based upon the evidence presented to the board:
- (1) There is or will be at the time the home office or branch is opened, the necessity for same in the community to be served by it.
- (2) There is a reasonable probability of usefulness and success of the proposed home office or branch.
- (3) The proposed home office or branch can be established without undue injury to properly conducted existing associations or federal savings and loan associations.
L. 1971, ch. 81, § 4; L. 1988, ch. 356, § 57; July 1, 1989.