§ 4946 Conversion Articles Approval

• •If a bank wants to change its type (like from a small bank to a big bank), it must ask the boss (commissioner) for permission first.
• •After the boss says yes, the bank must send the new rules (articles) of the bank to the boss again for approval.
• •Once the boss approves the new rules, the bank must send them to the state office (Secretary of State) to make it official.
• •Finally, the bank must give the boss a copy of the new rules that the state office has stamped as official.

A small local bank wants to become a bigger bank so it can offer more services.

The bank first asks the commissioner for permission to change. After getting the okay, the bank writes its new rules and sends them to the commissioner again. Once approved, the bank files these rules with the Secretary of State and then gives a stamped copy back to the commissioner to finish the process.