A person that has not received from the Director of the Department of Consumer and Business Services a charter or a certificate of authority to conduct banking business may not:
Advertise that the person is receiving or accepting money on deposit.
Use a sign at the person’s place of business that indicates that the person:
Is a banking institution or that the place of business is a place of business for a banking institution;
Receives deposits or payments made on check; or
Transacts any other form of banking business.
Make use of or circulate any letterheads, blank notes, blank receipts, certificates, circulars or any written or printed paper that indicates that the business is the business of a banking institution.
Transact business under any name that the director determines leads the public to believe that the person is transacting business as a banking institution or that the person is affiliated with a banking institution.
Solicit or receive deposits or transact business in the manner of a banking institution or in such a manner as to lead the public to believe that the person is transacting business as a banking institution.
This section does not apply to a national bank that was lawfully transacting banking business in this state on June 30, 2011, and has continuously transacted banking business in this state after June 30, 2011. [Amended by 1973 c.797 §51; 1997 c.631 §30; 2015 c.244 §15]