Before formation of a cooperative financial institution under this chapter, originating members who wish to associate themselves in a cooperative financial institution shall sign and execute an organization certificate on a form prescribed by the commissioner, which must state: 1. The name of the cooperative financial institution. The name may not be the name of any other bank, credit union, or financial institution previously incorporated within the this state; 2. The location of the principal office of the cooperative financial institution at which business will be conducted; 3. The names and places of residence of the originating members; and
4. The respective dates on which the cooperative financial institution will commence business.
6-06.2-06. Acknowledgment of organization certificate - Application for certificate of authority - Notice of hearing. The organization certificate must be notarized. The authenticated certificate must be transmitted to the state banking board with a request for permission to present the certificate to the secretary of state, with application for the issuance of a certificate of authority, as well as payment of an application fee. The commissioner shall establish the application by rule. After receipt of the proposed organization certificate, application, and application fee, the board shall publish the application in the official newspaper of the county the cooperative financial institution is proposed to be established. The notice must contain a statement of a time and place at which the board will hear the application and must specify that any individual objecting the application may appear and show cause why the application should not be approved.