Sec. 06.05.327. Change in outstanding voting shares.
76 words·~1 min read·
/ak/title-6/chapter-5/06-05-327A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 06.05.327. Change in outstanding voting shares.
Before a change may occur in the outstanding voting shares of a state bank that will result in a change in the control of the bank, or before any sales or transfers by or to a person, corporation or other legal entity of the aggregate of 10 percent or more of the voting shares of a state bank may be made, the transaction must be approved by the department.