Sec. 3. (a) A request to establish a financial institution must be set forth in an application: (1) prescribed by the department; and (2) containing the information required by the department. (b) Within twenty (20) business days after receiving an application under this section, the department shall: (1) accept the application for processing; (2) request additional information to complete the application; or (3) return the application if it is incomplete.
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