524.1404 Procedure after approval by superintendent — issuance of certificate of merger.
190 words·~1 min read·
/ia/chapter-524-banks/524-1404·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If applicable state or federal laws require the approval of the merger by a federal or state agency, the superintendent may withhold delivery of the approved articles of merger until the superintendent receives notice of the decision of such agency. If the final approval of the agency is not given within six months of the superintendent’s approval, the superintendent shall notify the parties to the plan of merger that the approval of the superintendent has been rescinded for that reason.
If such agency gives its approval, the superintendent shall deliver the articles of merger, with the superintendent’s approval indicated on the articles, to the secretary of state, and shall notify the parties to the plan of merger. The receipt of the approved articles of merger by the secretary of state constitutes filing of the articles of merger with that office. On the date upon which the merger is effective, the secretary of state shall issue and send a certificate of merger to the resulting state bank and send a copy of the certificate of merger to the superintendent.
[C54, 58, 62, 66, §528B.6; C71, 73, 75, 77, 79, 81, §524.1404]