Tennessee Code 45-2-1313 – Merger of bank in financial difficulty

(a) If a bank is determined to be in financial difficulty by the appropriate regulatory officials, as defined in § 45-2-1402, it may be merged into any other bank in this state, notwithstanding §§ 45-2-614 and 45-2-1302(a).

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Terms Used In Tennessee Code 45-2-1313

Bank: means a state or a national bank. See Tennessee Code 45-2-1301
Merger: includes consolidation. 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

(b) The merger procedure shall be the same as that procedure required for a regular merger pursuant to this part except that no notice by publication need be given.

(c) Prior to approving a merger pursuant to this section, the appropriate regulatory officials shall determine that alternative methods of protecting the depositors and stockholders of a bank in financial difficulty are not feasible.

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Tennessee Code 45-2-1313 – Merger of bank in financial difficulty

Terms Used In Tennessee Code 45-2-1313

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