§ 53-224.21. Conditions for interstate merger prior to June 1, 1997.
111 words·~1 min read·
/nc/chapter-53/53-224-21A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 53-224.21. Conditions for interstate merger prior to June 1, 1997.
An interstate merger transaction prior to June 1, 1997, involving a North Carolina bank shall not be consummated, and any out-of-state bank resulting from such a merger shall not operate any branch in North Carolina, unless the laws of the home state of each out-of-state bank involved in the interstate merger transaction permit North Carolina banks under substantially the same terms and conditions as are set forth in Part 3 to acquire banks and establish and maintain branches in that state by means of interstate merger transactions. (1995, c. 322, s. 2; 1995 (Reg. Sess., 1996), c. 742, s. 22.)