Any financial institution or credit union may relocate a branch upon sixty (60) days’ prior written notice to the director, or the director’s designee, provided that the relocated branch is: (1) To be located within the same city or town as the existing branch; or (2) To be located within a ten (10) mile radius of the existing branch; and (3) The existing branch will be closed upon construction and/or occupancy of the relocated branch.
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