17:16J-15 - Federally chartered depository;Ā supervisory merger
17:16J-15.Ā Federally chartered depository;Ā supervisory merger
In the case of a supervisory merger, the commissioner may authorize a stateĀ chartered depository to merge into, consolidate with, or sell its assets andĀ transfer its liabilities to a federally chartered depository which has itsĀ principal office in this State, pursuant to the provisions of federal law, andĀ notwithstanding any restriction or prohibition under the laws of this State. The provisions of sections 5 through 14 of this act shall not apply to aĀ supervisory merger pursuant to the provisions of this section.
L.1982, c. 8, s. 15, eff. March 4, 1982.
Ā
In the case of a supervisory merger, the commissioner may authorize a stateĀ chartered depository to merge into, consolidate with, or sell its assets andĀ transfer its liabilities to a federally chartered depository which has itsĀ principal office in this State, pursuant to the provisions of federal law, andĀ notwithstanding any restriction or prohibition under the laws of this State. The provisions of sections 5 through 14 of this act shall not apply to aĀ supervisory merger pursuant to the provisions of this section.
L.1982, c. 8, s. 15, eff. March 4, 1982.
Ā