1981 BANKING LAW. COPYRIGHT RODERICK H. SEEMAN

Article 27 (Cancellation, etc. of Licenses)

When a bank has violated laws and regulations, its articles of incorporation or dispositions of the Minister of Finance based on laws and regulations, the Minister of Finance can order the said bank that it suspend its business totally or in part or that its directors or auditors resign, or can cancel the license of Article 4, Paragraph 1.