Prior to the issuance of an authorization to do business, the superintendent may cause the dissolution of a state bank if there exists any reason why it should not have been incorporated under this chapter or if an authorization to do business has not been issued within one year after the date of its incorporation, or such longer time as the superintendent may allow for satisfaction of conditions precedent to its issuance. After giving the state bank adequate notice and an opportunity for hearing, the superintendent shall certify the applicable facts by the filing of a statement with the secretary of state, who shall thereafter issue a certificate of dissolution. Upon the issuance of such certificate of dissolution by the secretary of state, the corporate existence of the state bank shall cease.
[C31, 35, § 9142-c1; C39, § 9142.1; C46, 50, 54, 58, 62, 66, § 524.14; C71, 73, 75, 77, 79, 81, § 524.1302]
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