§ 5-7A-20 — Conversion of National Bank, Etc., into State Bank - Procedure

Any bank organized under the laws of the United States may, by the vote of the stockholders owning not less than a majority of the capital stock of such bank with the approval of the superintendent and upon the payment by it to the superintendent of a fee prescribed by the Banking Board under Section 5-5A-13, be converted into a state bank with any name approved by the superintendent.

Legislative History

(Acts 1980, No. 80-658, §5-7-20.)