Virginia Code 6.2-853: Conditions for interstate merger.
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An interstate merger transaction involving a Virginia bank shall not be consummated, and any out-of-state bank resulting from such a merger shall not operate any branch in the Commonwealth, if the Commission finds that the laws of the home state of any out-of-state bank involved in the interstate merger transaction do not permit interstate merger transactions or finds that the resulting out-of-state bank has not complied with all applicable requirements of any law of the Commonwealth.
Terms Used In Virginia Code 6.2-853
- Bank: has the meaning assigned to it in Virginia Code 6.2-849
- Commission: means the State Corporation Commission. See Virginia Code 6.2-100
- Home state: has the meaning assigned to it in § Virginia Code 6.2-849
- Interstate merger transaction: means :
1. See Virginia Code 6.2-849
- Out-of-state bank: has the meaning assigned to it in § Virginia Code 6.2-849