Nevada § 666.025 Effect of consolidation of banks

Nevada Statutes

§ 666.025 — Effect of consolidation of banks

Nevada § 666.025

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 666Major

MAJOR ORGANIZATIONAL CHANGES; TRANSFER OF ASSETS AND LIABILITIES

This text of Nevada § 666.025 (Effect of consolidation of banks) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 666.025 (2026).

Text

1.When an agreement of consolidation is made and a certified copy thereof is filed with the Secretary of State, together with a certified copy of the approval of the Commissioner of the consolidation, the banks which are parties to the consolidation become one bank, possessed of the rights, privileges, powers and franchises of the several banks, but subject to all the provisions of law under which it is created.

2.The directors and other officers named in the agreement of consolidation shall serve until the first annual meeting for election of officers and directors, the date for which must be named in the agreement.

3.On filing such agreement, the property and rights of every kind of the several banks are thereby transferred and vested in such new bank, and are as fully its property as

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1. When an agreement of consolidation is made and a certified copy thereof is filed with the Secretary of State, together with a certified copy of the approval of the Commissioner of the consolidation, the banks which are parties to the consolidation become one bank, possessed of the rights, privileges, powers and franchises of the several banks, but subject to all the provisions of law under which it is created.
2. The directors and other officers named in the agreement of consolidation shall serve until the first annual meeting for election of officers and directors, the date for which must be named in the agreement.
3. On filing such agreement, the property and rights of every kind of the several banks are thereby transferred and vested in such new bank, and are as fully its property as they were of the banks which were parties to the agreement.