- (a) Certificate of general good. The Commissioner shall determine whether or not a certificate of general good shall be granted to organize a financial institution and shall make the decision in accordance with the requirements of chapter 201, subchapter 7 of this title.
- (b) Conditions. A grant of a certificate of general good may include such terms and conditions as the Commissioner determines necessary. These may include conditions regarding the organizational form of the financial institution under this chapter.
- (c) Effect of refusal to issue certificate of general good. If the Commissioner refuses to issue a certificate of general good, a new application may be filed by the organizers after one year from the date of the refusal.
(Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)