(a) The incorporators shall file with the Commissioner for examination the two copies of the articles of incorporation.

(b) The Commissioner shall investigate and determine if:

(1) The articles are framed in accordance with law;

(2) The character, responsibility, and general fitness of the incorporators and directors named in the articles command confidence and warrant belief that the business of the proposed commercial bank will be conducted honestly and efficiently, in accordance with the intent of this article; and

(3) Allowing the proposed commercial bank to engage in business:

(i) Will promote public convenience and advantage; and

(ii) Is expedient and desirable.

(c) After the investigation, the Commissioner may require any change in the articles of incorporation that the Commissioner considers necessary.

(d) (1) Within 6 months after the articles are filed for examination, the Commissioner shall sign, date, and endorse each copy of the articles as “approved” or “refused”.

(2) If formation of the commercial bank is refused, the Commissioner shall return one of the endorsed copies of the articles to the incorporators.

(3) If formation of the commercial bank is approved, the Commissioner shall:

(i) Return one of the endorsed copies of the articles to the incorporators; and

(ii) Keep and record one of the endorsed copies.