Supervisory mergers

11-44-110.5. Supervisory mergers. As a condition to allowing an association to resume business, the commissioner may require the association to merge with a domestic, foreign, or federal savings and loan association. In the case of such a supervisory merger initiated by the commissioner or the federal deposit insurance corporation or its successor, the provisions of section 11-43-101 shall not apply. Source: L. 82: Entire section added, p. 246, � 1, effective March 25. L. 2004: Entire section amended, p. 152, � 61, effective July 1.