FEDERAL · 12 U.S.C. · Chapter 2
Continuation of business and corporate entity
Current through Pub. L. 119-102
The franchise of a national banking association as a national banking association shall automatically terminate when its conversion into or its merger or consolidation with a State bank under a State charter is consummated and the resulting State bank shall be considered the same business and corporate entity as the national banking association, although as to rights, powers, and duties the resulting bank is a State bank. Any reference to such national banking association in any contract, will, or document shall be considered a reference to the State bank if not inconsistent with the provisions of the contract, will, or document or applicable law.
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12 U.S.C. § 214b (Continuation of business and corporate entity) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Jamie Viqueira v. First Bank
140 F.3d 12 (First Circuit, 1998)
Citizens Bank & Trust Co. v. Barlow Corp.
456 A.2d 1283 (Court of Appeals of Maryland, 1983)
United States v. Alamo Bank of Texas
880 F.2d 828 (Fifth Circuit, 1989)
Old Kent Bank and Trust Company v. William McC Martin, Jr., Individually and as Chairman of the Board of Governors of the Federal Reserve System
281 F.2d 61 (D.C. Circuit, 1960)
United States v. Central National Bank
705 F. Supp. 336 (S.D. Texas, 1988)
Source Credit
History
(Aug. 17, 1950, ch. 729, §3, 64 Stat. 456.)