§ 6-1416. Prohibitions relating to control of banks - Remedies.  


Latest version.
  • A.  No bank holding company shall control a bank unless the bank is one such as is defined in Section 2(c) of the federal Bank Holding Company Act of 1956, as amended.

    B.  No company that is not a bank holding company shall control a bank.

    C.  In addition to other remedies provided for by law, the Commissioner may enforce the provisions of this section by:

    1.  Injunction; or

    2.  Cease and desist order; or

    3.  Fine.

Added by Laws 1985, c. 168, § 8, emerg. eff. June 18, 1985.  Amended by Laws 1996, c. 92, § 10, eff. June 1, 1996.