1. Upon compliance with the requirements of this chapter, one or more state banks or one or more national banks, or any combination of state and national banks, may merge or consolidate into a national bank or, with the approval of the superintendent, may merge into a state bank or consolidate into a new state bank.
2. The authority of a state bank to merge or consolidate into a national bank shall be subject to the condition that at the time of the transaction the laws of the United States shall authorize a national bank located in this state, without approval by the comptroller of the currency of the United States, to merge or consolidate into a state bank under limitations no more restrictive than those contained in this chapter with respect to the merger or consolidation of a state bank into a national bank.
[C54, 58, 62, 66, § 528B.1--;528B.3; C71, 73, 75, 77, 79, 81, § 524.1401]
Iowa General Assembly
Search: Iowa Code 1995
© 1996 Cornell College and League of Women Voters of Iowa
Comments? webmaster@legis.iowa.gov.
Last update: Thu Feb 8 18:14:51 CST 1996
URL: /IACODE/1995/524/1401.html
jhf