Section 13-4-103 - Cancellation of Charter

13-4-103. Cancellation of charter. (a) The charter of any bank organized under this act is forfeited and cancelled in any of the following cases: (i) Upon completion of a liquidation; (ii) Merger which makes unnecessary the continued use of the charter of a bank due to the loss of its corporate identity to another banking institution; (iii) If a regular place of business has not been maintained by any bank for two (2) years.