12 USC 215a-1 – Interstate consolidations and mergers
Current as of: 2024 | Check for updates
|
Other versions
(a) In general
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.
(b) Scope of application
Terms Used In 12 USC 215a-1
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- State: means the several States and Territories, the Commonwealth of Puerto Rico, the Virgin Islands, and the District of Columbia. See 12 USC 215b
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.
(c) Definitions
The terms “home State” and “out-of-State bank” have the same meaning as in section 1831u(f) 1 of this title.