Title 11, Financial Institutions

(1) All rules of the commissioner lawfully adopted prior to April 15, 1988, shall continue to be effective until revised, amended, repealed, or nullified pursuant to law. (2) The banking board and the commissioner in the exercise of their powers pursuant to this code shall be gui…

The banking board shall adopt rules governing the marketing of nontraditional mortgages by banking institutions. In adopting such rules, the board shall incorporate appropriate provisions of section 1098 of the federal "Dodd-Frank Wall Street Reform and Consumer Protection Act", …

(1) The banking board has the power to designate a person to act as a hearing officer to conduct any public hearing authorized or required by this code except in the case of charter applications that have been timely protested pursuant to the rules of the banking board. The banki…

(1) The commissioner, or the banking board, has the power to subpoena witnesses, compel their attendance, require the production of evidence, administer an oath, and examine any person under oath in connection with any subject relating to a duty imposed upon, or a power vested in…

No person who in good faith relies on any order or rule of the banking board shall be subjected to any civil or criminal liability for any act or omission to act, notwithstanding a subsequent decision by a court invalidating any such order or rule. Source: L. 2003: Entire article…

(1) The banking board shall establish by rule an independent administrative appeals process to address an adverse material supervisory determination that affects a state bank. For purposes of this section, a "material supervisory determination" means: (a) An examination rating, i…

(1) Any person aggrieved and directly affected by an order of the banking board issued under this code may seek a review in the district court in and for the county in which the bank is located, or proposed bank is to be located, within thirty days after receipt of written notice…

(1) The commissioner shall examine the books and records of every state bank as often as deemed advisable and, to the extent required by the banking board, shall make and file in the commissioner's office a correct report in detail disclosing the results of such examination. (2) …

(1) Every state bank shall make and file with the banking board not less than three reports during each calendar year according to the form that may be prescribed by the banking board, verified by the oath of either the president, the vice-president, the cashier, or the secretary…

(1) As used in this section, unless the context otherwise requires: (a) "Person" means an individual, a corporation, a partnership, a trust, or any other legal entity. (b) "Controlling person" means a person who is in control of a state bank or would be in control of a state bank…

For each calendar year, the commissioner shall compile and publish an annual report in such form and containing such information as the commissioner may determine necessary to reasonably summarize the operations of the division during such year. Source: L. 2003: Entire article ad…

(1) (a) Information from the records of the division shall be revealed only to members of the banking board, except as follows: (I) Information may be disclosed if such disclosure is rendered necessary by law. (II) Any party entitled to appear in a hearing on an application for b…

(1) The banking board, the commissioner, and all deputies and employees of the division shall not divulge any information acquired by them in the discharge of their duties except insofar as disclosure may be rendered necessary or authorized by law, including section 11-102-305 (4…

The commissioner shall have access to any record of the division relating to state banks, and the appointive members of the banking board shall have such access upon the affirmative vote of a majority of the members of the banking board. Source: L. 2003: Entire article added with…

(1) Every state bank shall retain its business records for such periods as are prescribed by or in accordance with the terms of this section. (2) Each state bank shall retain permanently the minute books of meetings of its stockholders and directors, its capital stock ledger and …

(1) The banking board shall annually establish fees and assessments pursuant to section 11-102-104 (11). Assessments may be made more frequently than annually at the discretion of the banking board. (2) For the fiscal year beginning July 1, 2003, and for each fiscal year thereaft…

(1) All fees and assessments collected by the banking board shall be transmitted to the state treasurer, who shall credit the same to the division of banking cash fund, which fund is created in the state treasury. All money in the fund shall be subject to appropriation by the gen…

No officer or employee of the division shall be an officer, director, attorney, owner, or shareholder in any bank, or, except as provided in this article 102, receive, directly or indirectly, any payment or gratuity from any such bank, or be indebted to any bank or other institut…

A person who is a member of the banking board or an officer or employee of the division is not liable in any civil action for damages for any act done or omitted in good faith in performing the functions of the person's office. Source: L. 2003: Entire article added with relocatio…

(1) (a) (I) After notice and a hearing as provided in article 4 of title 24 and after making a determination that no other appropriate governmental agency has taken similar action against such person for the same act or practice, the banking board may assess against and collect a…

Notwithstanding any other provision of law, no state bank shall indemnify or insure any executive officer, director, employee, agent, or person participating in the conduct of affairs of such bank against civil money penalties. Source: L. 2003: Entire article added with relocatio…

(1) The banking board may serve any executive officer, director, employee, agent, or other person participating in the conduct of the affairs of a bank with a written notice of its intention to remove such person from office whenever the banking board determines: (a) That any suc…

(1) The banking board may suspend an executive officer, director, employee, agent, or other person participating in the conduct of the affairs of a state bank who becomes ineligible to hold such position, or who after receipt of an order of the banking board to cease and desist v…

The banking board, or the commissioner if so authorized by the banking board, shall have authority to initiate informal actions to enforce the provisions of this code. In this regard the banking board or the commissioner may, in the banking board's or the commissioner's discretio…

Any person who willfully makes, circulates, or transmits to another any false statement, written or oral, that is directly or by inference derogatory to the financial condition of any state bank and that results in an extraordinary withdrawal of funds from such bank or that resul…