State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-224_21

§53‑224.21.  Conditions for interstate merger prior to June 1, 1997.

An interstate mergertransaction prior to June 1, 1997, involving a North Carolina bank shall not beconsummated, and any out‑of‑state bank resulting from such a mergershall not operate any branch in North Carolina, unless the laws of the homestate of each out‑of‑state bank involved in the interstate mergertransaction permit North Carolina banks under substantially the same terms andconditions as are set forth in Part 3 to acquire banks and establish andmaintain branches in that state by means of interstate merger transactions. (1995,c. 322, s. 2; 1995 (Reg. Sess., 1996), c. 742, s. 22.)