1. A. Objectives. The primary objectives of the Commissioner and the Banking Board shall be to maintain a sound banking system, to encourage a competitive banking environment and to provide convenience to the public.

2. B. Investigation. Upon acceptance of an application for authority to organize a state bank or trust company, the Commissioner shall make or cause to be made an investigation of the facts surrounding the application. The investigation shall include interviews with each organizer and proposed director, with a representative sampling of businessmen in the community which applicant bank or trust company proposes to serve and with a representative sampling of the members of the public in the community. The investigation shall seek to determine the probable support for the new bank or trust company, the community standing or reputation of the organizers and proposed directors, and the adequacy of existing facilities and services in the community.

   The investigation shall address the proposed institution's earnings and deposit prospects, the ability of proposed management, the adequacy of initial capital, the safety and soundness of intended operations and economic and competitive conditions in the market to be served. Economic analysis shall include a review of the growth potential of the proposed market, and the growth rate and size of financial institutions in the market area.

3. C. Comments or objections. Within twenty-one (21) days after notice by publication as described in Section 7 of this act, any interested person may submit to the Commissioner written comments or objections to organization of the proposed bank, or a request for an opportunity to be heard. Any request for opportunity to be heard shall set forth reasons justifying the time and expense entailed by such hearing. In the absence of a request, the Commissioner may order a hearing to be held if it is in the public interest.

Added by Laws 1982, SB 583, c. 204, § 8.