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524.1804 More than one-fourth of stock by acquisition---effect.

Any bank holding company, or firm which would thereby become a bank holding company, which proposes to directly or indirectly acquire ownership or control of the voting shares of any bank, and which upon such acquisition would own or control more than twenty-five percent of the voting shares of the bank, shall provide to the superintendent a copy of any original application to the board of governors of the federal reserve system for permission to take such action, and a copy of any subsequent amendment thereto, at the same time the application or amendment is transmitted to the federal reserve system. The superintendent may conduct such investigation into and evaluation of the proposed action as the superintendent deems necessary and appropriate, and may submit to the federal reserve board any information so obtained together with the superintendent's own comments or recommendations regarding the proposed acquisition.

Section History: Early form

[C73, 75, 77, 79, 81, § 524.1804]

Internal References

Referred to in § 524.519, 524.1801, 524.1807

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