51A-15-10. Cancellation of voluntary liquidation.
65 words·~1 min read·
/sd/title-51/chapter-51-15/51a-15-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A bank may, at any time prior to the director's cancellation of its charter, revoke its intention to voluntarily liquidate under § 51A-15-1 , if it receives approval of its action upon an affirmative vote of at least two - thirds of the voting shares of the bank. Written evidence of its intentions delivered to the director prior to cancellation are considered an effective revocation.