Section 24. Investigation by superintendent; refusal or approval; filing certificate

1. Within ninety days after the date when any  organization  certificate  or  private  banker's certificate shall have been filed for
  examination, the superintendent, if he shall  find  after  investigation
  and  examination  of what he deems to be the best sources of information
  at his command that the character, responsibility and general fitness of
  the person or persons named in such certificate are such as  to  command
  confidence  and  warrant  belief  that  the  business  of  the  proposed
  corporation or private banker will be honestly and efficiently conducted
  in accordance with the intent and purpose of this chapter, and that  the
  public  convenience  and  advantage  will  be  promoted by allowing such
  proposed corporation or private banker  to  engage  in  business,  shall
  submit  such  certificate to the banking board together with all papers,
  correspondence and other information in his possession relating thereto,
  including the results of his investigation and his recommendation in the
  matter. Such period of ninety days may be extended, by a written consent
  executed by a majority of  the  persons  from  whom  the  superintendent
  received  such organization certificate or private banker's certificate,
  for such additional reasonable period of time as  may  be  required  for
  applicants  to  comply  with  conditions  precedent  stipulated  by  the
  superintendent as being a prerequisite  to  his  recommendation  to  the
  banking board.
    2. If three-fifths of the members of the board, after consideration of
  all relevant information available to them, shall vote for approval, the
  superintendent,  if  he  is still satisfied, upon the considerations set
  forth in subdivision one of this section, that such proposed corporation
  or private banker should be  permitted  to  engage  in  business,  shall
  approve  such  certificate  and  endorse upon each of the duplicates the
  date of such approval.  He shall forthwith cause notice of such approval
  to be given to the proposed incorporators or private banker and  one  of
  the  duplicate  certificates to be filed in the office of the department
  and the other in the office of the clerk of  the  county  in  which  the
  principal office of such proposed corporation or private banker is to be
  located.    In a case in which a private banker certificate is submitted
  to the superintendent for the purpose  of  continuing  the  business  in
  connection  with  a  change in its partnership, the superintendent shall
  approve the private banker certificate without any action by the banking
  board upon making a determination that  the  private  banker  should  be
  permitted  to  continue  its  business based upon the considerations set
  forth in subdivision one of this section.
    3. If three-fifths of the members of the banking board shall not  vote
  for  approval,  or  if the superintendent, either prior or subsequent to
  the submission of such certificate to the board, is not satisfied,  upon
  the  considerations  set  forth in subdivision one of this section, that
  such proposed corporation or  private  banker  should  be  permitted  to
  engage in business, the superintendent shall refuse such certificate and
  shall  endorse  thereon  the  date of such refusal and return one of the
  duplicates to the proposed incorporators or  private  banker  from  whom
  such certificate was received.
    4.  The provisions of this section shall not apply to any organization
  certificate required to be filed in the office of the superintendent  by
  section  two  hundred  sixty-b,  by section four hundred ten, by section
  four hundred eleven or  by  section  four  hundred  eighty-six  of  this
  chapter.