(a) A resulting state or national bank shall be considered the same business and corporate entity as each merging bank or as the converting bank with all the property rights, powers, duties, fiduciary appointments subject to § 45-2-1310 and obligations of each merging bank or the converting bank, except as affected by the state law in the case of a resulting state bank or the federal law in the case of a resulting national bank, and by the charter and bylaws of the resulting bank.
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Terms Used In Tennessee Code 45-2-1308

  • Bank: means a state or a national bank. See Tennessee Code 45-2-1301
  • Converting bank: means a bank converting from a state to a national bank, or the reverse. See Tennessee Code 45-2-1301
  • Fiduciary: A trustee, executor, or administrator.
  • Merger: includes consolidation. See Tennessee Code 45-2-1301
  • Merging bank: means a party to a merger. See Tennessee Code 45-2-1301
  • 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
  • National bank: means a national banking association located in this state. See Tennessee Code 45-2-1301
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Resulting bank: means the bank resulting from a merger or conversion. See Tennessee Code 45-2-1301
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • State bank: means a bank chartered by this state. See Tennessee Code 45-2-1301
(b) A resulting bank shall have the right to use the name of any merging bank or of the converting bank whenever it deems it more convenient to do so.
(c) Any reference to a merging or converting bank in any writing, whether executed or taking effect before or after the merger or conversion, shall be deemed a reference to the resulting bank if not inconsistent with the other provisions of the writing.
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