Permanent stock associations - Initial subscriptions to savings accounts

As a prerequisite to approval of any application for a proposed permanent stock association, the incorporators must show, to the satisfaction of the Savings and Loan Association Board [abolished], subscribed savings accounts from individuals in the aggregate number and amount which, in the opinion of the board, will justify the initial successful operation of the association. Acts 1963, No. 227, § 30; A.S.A. 1947, § 67-1830. As a prerequisite to approval of any application for a proposed permanent stock association, the incorporators must show, to the satisfaction of the Savings and Loan Association Board [abolished], subscribed savings accounts from individuals in the aggregate number and amount which, in the opinion of the board, will justify the initial successful operation of the association. Acts 1963, No. 227, § 30; A.S.A. 1947, § 67-1830.