7-1-7. Publication of notices or advertisements.

Except as otherwise expressly provided, any notice or advertisement required by this chapter to be published in a newspaper shall be published once a week for four weeks in the newspaper which is, on the date of the first such publication, the official organ (as determined pursuant to Code Section 9-13-142) of the county which is or is to be the location of the main office of the financial institution.#

The department may waive or modify any requirement to publish a notice:#

1. (1)

   In order to facilitate a merger, consolidation, or sale of assets when one of the parties is a failed or failing bank as determined by the commissioner;#

2. (2)

   Whenever it determines that the public benefit is not significantly served by a second or subsequent publication in a situation where a series of transactions would otherwise require multiple publications;#

3. (3)

   Where a similar publication required by another state or federal regulator serves substantially the same purpose;#

4. (4)

   By regulation or order, whenever it determines that a lesser number of publications will reduce administrative burden and will adequately serve the public benefit of the notice; or#

5. (5)

   For other reasons of regulatory parity.#

The department may require proof of publication or modified publication having been completed prior to consummation of the underlying transaction.#