12 USC 215a-3 – Mergers and consolidations with subsidiaries and nonbank affiliates
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(a) In general
Upon the approval of the Comptroller, a national bank may merge with one or more of its nonbank subsidiaries or affiliates.
(b) Scope
Terms Used In 12 USC 215a-3
- Comptroller: means the Comptroller of the Currency. See 12 USC 215b
- 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
Nothing in this section shall be construed—
(1) to affect the applicability of section 1828(c) of this title; or
(2) to grant a national bank any power or authority that is not permissible for a national bank under other applicable provisions of law.
(c) Regulations
The Comptroller shall promulgate regulations to implement this section.