12 U.S.C. § 215a–1 — Interstate consolidations and mergers
submitted 108 years ago by Pub. L. 103-328 to r/title-12-BANKS-AND-BANKING · 101 words · no verdicts yet
A national bank can merge or consolidate with an out-of-state bank if the deal is approved under section 1831u. Before June 1, 1997, this is only allowed if each bank's home state already has a qualifying law in place. "Home State" and "out-of-State bank" have the meanings given in section 1831u.
(a) In general — A national bank may merge or consolidate with an out-of-state* bank under this subchapter, as long as the deal is approved under section 1831u of this title.
(b) Scope of application — This is not allowed for any merger or consolidation happening before June 1, 1997, unless every bank involved has a home state with a law in effect that matches what section 1831u(a)(3) describes.
(c) Definitions — "Home State" and "out-of-State bank" carry the same meanings they have in section 1831u(f) of this title.
A national bank may engage in a consolidation or merger under this subchapter with an out-of-State* bank if the consolidation or merger is approved pursuant to section 1831u of this title.
Subsection (a) shall not apply with respect to any consolidation or merger before June 1, 1997, unless the home State of each bank involved in the transaction has in effect a law described in section 1831u(a)(3) of this title.
The terms “home State” and “out-of-State bank” have the same meaning as in section 1831u(f) 1 of this title.
Source credit: (Nov. 7, 1918, ch. 209, § 4, as added Pub. L. 103–328, title I, § 102(b)(4)(D), Sept. 29, 1994, 108 Stat. 2351.)
- 1918Enacted · Pub. L. 103-328 · 108 Stat. 2351
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-328 on 1918-11-07.
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