Section 28-11-5-3 - Applications to establish financial institutions(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.As added by P.L. 42-1993, SEC.91. Amended by P.L. 122-1994, SEC.111.