1. A. Before a certificate of authority is issued for a new mutual association, there shall be paid into the escrow fund as subscriptions to savings accounts of the proposed association such aggregate amount as the Commissioner shall deem adequate, but not less than an amount necessary to meet the requirements of the Federal Deposit Insurance Corporation.
2. B. No permanent capital stock association may be organized hereafter unless, prior to the filing of its certificate of incorporation, such amounts of its permanent capital stock as the Commissioner shall deem adequate, but not less than an amount necessary to meet the requirements of the Federal Deposit Insurance Corporation shall have been subscribed for and paid for in lawful money of the United States.

Laws 1970, HB 1543, c. 101, § 20, emerg. eff. June 1, 1970; Amended by Laws 1978, SB 385, c. 168, § 2, eff. July 1, 1979; Amended by Laws 1987, HB 1267, c. 61, § 3, emerg. eff. May 4, 1987; Amended by Laws 1988, HB 1743, c. 65, § 13, emerg. eff. March 25, 1988; Amended by Laws 1990, HB 2278, c. 118, § 5, emerg. eff. April 23, 1990; Amended by Laws 1993, SB 31, c. 183, § 41, emerg. eff. July 1, 1993.