§ 214b. Continuation of business and corporate entity
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/usc/title-12/section-214bA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The franchise of a national banking association as a national banking association shall automatically terminate when its conversion into or its merger or consolidation with a State bank under a State charter is consummated and the resulting State bank shall be considered the same business and corporate entity as the national banking association, although as to rights, powers, and duties the resulting bank is a State bank. Any reference to such national banking association in any contract, will, or document shall be considered a reference to the State bank if not inconsistent with the provisions of the contract, will, or document or applicable law.
(Aug. 17, 1950, ch. 729, § 3, 64 Stat. 456.)
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- Aug. 17, 1950, ch. 729, § 3
- 64 Stat. 456
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§ 214b
Continuation of business and corporate entity
Fed. Reg.×16
C.F.R.×1
ActAug. 17, 1950, ch. 729, § 3
Stat.64 Stat. 456
Cites 2Cited by 17 across 2 sources