(a) A capital stock savings bank’s articles of incorporation must include a statement of:
(1) the aggregate number of shares of common stock that the savings bank may issue;
(2) the par value of each share or that the shares are without par value;
(3) whether the savings bank may issue preferred stock;
(4) the amount of stock that has been subscribed and will be paid for before the savings bank begins business;
(5) the name and address of each subscriber and the amount subscribed by each; and
(6) the amount of paid-in surplus with which the savings bank will begin business.
(b) Before approving the application of a capital stock savings bank, the commissioner shall require the savings bank to have an aggregate amount of capital in the form of stock and paid-in surplus the finance commission by rule specifies.

(c) The subscriptions for capital stock, less any lawful expenditures, shall be returned pro rata to the subscribers if:
(1) the application is not approved; or
(2) the savings bank does not begin business.