7-1-79. Discretionary expedited approval process; considerations.

The department may determine that formal approvals for certain transactions or activities to be conducted by its regulated entities are not necessary but may be replaced by a discretionary expedited approval process to begin with written notice to the department by the entity which describes the transaction or activity in a form and with a specificity acceptable to the department. For such instances, the department shall promulgate rules and regulations consistent with the authority provided to it in this chapter.#

In the exercise of the discretion permitted by this Code section, the commissioner shall consider:#

1. (1)

   Whether the transaction or activity poses unacceptable safety and soundness risks;#

2. (2)

   Whether the transaction or activity is warranted only for financially strong and well-managed institutions, as such institutions are further defined in department regulations;#

3. (3)

   Whether the transaction or activity is necessary to reduce the burden on financial institutions or other entities which the department regulates;#

4. (4)

   Whether the transaction or activity will assist regulated entities in remaining competitive and responsive to both economic and consumer demands; and#

5. (5)

   Whether the transaction or activity is consistent with the objectives of this Code section.#