17-5544. Same; appeal in case of failure of commissioner to approve proposed merger.
17-5544
17-5544. Same; appeal in case of failure of commissioner to approve
proposed merger.
If the commissioner shall, within sixty days after receipt of the merger
agreement, fail or refuse to approve any such proposed merger, the
association involved shall have the same right of appeal as is provided in
the event of the failure or refusal of such commissioner to approve a
proposed certificate of incorporation and bylaws and if the commissioner
approves such merger any dissenting shareholder shall have the same right
of appeal. Such right of appeal shall not lie in the event any of the
merging associations is a federal savings and loan association unless and
until the federal home loan bank board has advised the commissioner that it
has no objection to such merger.
History: L. 1943, ch. 133, § 122; July 1.