Current through March 20, 2024
005.01 An applicant
for the move of the charter and main office of a bank outside the corporate
limits of the city where the charter is located must show to the Department
that:
005.01A The application will promote
the public necessity of the community where the applicant proposes to
relocate;
005.01B The application
will promote the convenience and advantage of the community where the applicant
proposes to relocate;
005.01C There
is a substantial likelihood that there will be no adverse effect on existing
financial institutions in the applicant's proposed primary service area, other
than normal competitive effects, if the application is approved; and
005.01D Proof that the move will have a
minimal effect on applicant's existing customers in the community being
vacated. Such proof may be shown by the existence of a branch in that
community. If an applicant cannot provide such proof, it must submit a proposal
to continue to serve such customers on a limited basis.
005.02 An applicant for the move of the
certificate of authority and main office of a building and loan association, a
savings and loan association, or a savings bank outside the corporate limits of
the city where the institution is located must show to the Department that:
005.02A There is a need for such an
institution in the community where the applicant proposes to
relocate;
005.02B The move will not
result in undue injury to properly conducted building and loan associations,
savings and loan associations, or savings banks located in the community where
the applicant proposes to relocate;
005.02C There is a reasonable probability of
usefulness and success for the applicant as a result of the move; and
005.02D Proof that the move will have a
minimal effect on applicant's existing customers in the community being
vacated. Such proof may be shown by the existence of a branch in that
community. If an applicant cannot provide such proof, it must submit a proposal
to continue to serve such customers on a limited basis.
005.03 An applicant for the move of a license
and main office of an industrial loan and investment company outside the
corporate limits of the city in which the license is located must show to the
Department that:
005.03A The application will
promote the public necessity of the community where the applicant proposes to
relocate;
005.03B The application
will promote the convenience and advantage of the community where the applicant
proposes to relocate;
005.03C There
is a substantial likelihood that there will be no adverse effect on existing
financial institutions in the applicant's proposed primary service area, other
than normal competitive effects, if the application is approved; and
005.03D Proof that the move will have a
minimal effect on applicant's existing customers in the community being
vacated. Such proof may be shown by the existence of a branch in that
community. If an applicant cannot provide such proof, it must submit a proposal
to continue to serve such customers on a limited basis.
005.04 An applicant for the move of the
certificate of approval and main office of a credit union outside the corporate
limits of the city in which the license is located must show to the Department
that:
005.04A The proposed location will
benefit existing members of the applicant;
005.04B The proposed location has the
potential for attracting new members to applicant's field of
membership;
005.04C The proposed
location will be adequately staffed and supervised; and
005.04D Proof that the move will have a
minimal effect on applicant's existing members residing in the community being
vacated. Such proof may be shown by the existence of a branch in that
community. If an applicant cannot provide such proof, it must submit a proposal
to continue to serve such members on a limited basis.
005.05 An applicant for the move of the
charter and main office of a trust company outside the corporate limits of the
city in which the charter is located must show to the Department that:
005.05A The application will promote the
public necessity or need of the community where the applicant proposes to
relocate;
005.05B The application
will promote the convenience and advantage of the community where the applicant
proposes to relocate;
005.05C There
is a substantial likelihood that there will be no adverse effect on existing
financial institutions in the applicant's proposed primary service area, other
than normal competitive effects, if the application is approved; and
005.05D Proof that the move will have a
minimal effect on applicant's existing customers in the community being
vacated. Such proof may be shown by the existence of a branch trust office in
that community. If an applicant cannot provide such proof, it must submit a
proposal to continue to serve such customers on a limited basis.
005.06 An applicant for the move
within the corporate limits of the city of the main office of a bank, building
and loan association, savings and loan association, savings bank, industrial
loan and investment company, credit union, trust company, or installment loan
company must provide to the Department:
005.06A An explanation of the reasons for the
move;
005.06B An analysis of the
financial feasibility of the move, including a discussion of the disposition of
the applicant's current premises; and
005.06C An explanation of the effect that
closing the existing office will have on applicant's existing
customers.
