§412:5-405  Termination of authority ofintra-Pacific bank holding company.  (a)  A financial institution holdingcompany ceases to be an intra-Pacific bank holding company at such time as itno longer meets the definition of an intra-Pacific bank holding company undersection 412:5-400.

(b)  A financial institution holding companywhich loses its status as an intra-Pacific bank holding company shallimmediately divest itself of its direct or indirect control of any financialinstitution subsidiary chartered or approved by this State.  Failure toaccomplish such divestiture within thirty days after termination of itsintra-Pacific bank holding company status shall be grounds for the suspensionor revocation of the financial institution subsidiary's charter or approval. [L1993, c 350, pt of §1]