TITLE 19
Financial institutions
CHAPTER 19-13
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
governor.
History of Section.
(P.L. 1995, ch. 82, § 51.)