9-1604.   Liquidation, consolidation or merger.Upon the affirmative vote of a majority of theoutstandingvoting stock any bank having trust authority may liquidate, or mayconsolidate or merge its trust department with any other bank having trustauthority or with any trust company, and any trust company may liquidate,or may consolidate or merge with any other trust company or with any bankhaving trust authority, except that such liquidation,consolidation or merger shall not beeffective until the commissioner has approved the same in writing after theterms have been submitted to the commissioner forexamination and approval.

      History:   L. 1947, ch. 102, § 80; L. 1951, ch. 120, § 3;L. 1996, ch. 175, § 16; Apr. 25.