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A.  The commissioner, in consultation with the Department of Economic Development, shall adopt rules and regulations regarding the criteria for the designation of banking development districts under this Chapter.  The rules and regulations shall require the commissioner to consider:

(1)  The location, number, and proximity of sites where banking services are available in the proposed district.

(2)  A report prepared by the secretary of the Department of Economic Development which shall determine whether or not the proposed banking development district meets the following criteria:

(a)  Consumer needs for banking services in the proposed district.

(b)  The economic viability and local credit needs of the community in the proposed district.

(c)  The existing commercial development in the proposed district.

(d)  The impact additional banking services would have on potential economic development in the proposed district.

B.  The commissioner shall promulgate such rules and regulations no later than January 1, 2008.

Acts 2007, No. 255, §1.