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§19-13-1  Proclamation of emergency. –

Published: 2015

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Financial institutions


Banking Emergencies

SECTION 19-13-1

   § 19-13-1  Proclamation of emergency.


The governor may proclaim that a banking emergency exists when it appears

necessary to protect the public and the interests of those regulated

institutions or of the shareholders, depositors, or other creditors of those

regulated institutions. Thereupon any or all of the regulated institutions

shall be subject to special regulation by the director, until the governor, by

like proclamation, declares the period of banking emergency terminated. Any

action taken or order issued by the director in any of the following sections

in this chapter shall, in each instance, be taken only with the approval of the


History of Section.

(P.L. 1995, ch. 82, § 51.)