The application for a certificate of authority to transact savings and loan business shall be accompanied by data concerning the community in which the proposed association is to be located, the occupations of the incorporators, the need for a new association, and a plan for payment of expenses of the proposed association until it is incorporated and is granted a certificate of authority, in the case of a stock association, or until it becomes self-sustaining from its own operating income in the case of a mutual association.

Amended by Laws 1988, HB 1743, c. 65, § 11, emerg. eff. March 25, 1988.