12 U.S.C. § 215a–3 — Mergers and consolidations with subsidiaries and nonbank affiliates

FEDERAL · 12 U.S.C. · Chapter 2

Mergers and consolidations with subsidiaries and nonbank affiliates

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 2 — NATIONAL BANKS·Subch. XVI

(a)In general Upon the approval of the Comptroller, a national bank may merge with one or more of its nonbank subsidiaries or affiliates.

(b)Scope Nothing in this section shall be construed—

(1)to affect the applicability of section 1828(c) of this title; or

(2)to grant a national bank any power or authority that is not permissible for a national bank under other applicable provisions of law.

(c)Regulations The Comptroller shall promulgate regulations to implement this section.

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(a) In general
Upon the approval of the Comptroller, a national bank may merge with one or more of its nonbank subsidiaries or affiliates.
(b) Scope
Nothing in this section shall be construed—
(1) to affect the applicability of section 1828(c) of this title; or
(2) to grant a national bank any power or authority that is not permissible for a national bank under other applicable provisions of law.
(c) Regulations
The Comptroller shall promulgate regulations to implement this section.

12 U.S.C. § 215a–3 (Mergers and consolidations with subsidiaries and nonbank affiliates) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Nov. 7, 1918, ch. 209, §6, as added Pub. L. 106–569, title XII, §1206, Dec. 27, 2000, 114 Stat. 3034.)

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