Tennessee Statutes
§ 45-2-1313 — Merger of bank in financial difficulty
Tennessee·Title 45
(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) .
(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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Legislative History
Acts 1981, ch. 330, § 1.
Nearby Sections
15
§ 45-1-101
Short title§ 45-1-103
General definitions§ 45-1-104
Department to execute laws§ 45-1-106
Salary of commissioner§ 45-1-107
Powers and duties of commissioner§ 45-1-109
Oaths of office§ 45-1-111
Limitation of personal liability§ 45-1-112
Official seal§ 45-1-113
Office facilities§ 45-1-116
Examiners - Employment and duties