Section 51A-6-20 - Merger or consolidation of trust company with national banking association--Noticeto director--Vote and resolution of stockholders--Filing of certificate. - South-dakota Statutes

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51A-6-20. Merger or consolidation of trust company with national banking association--Notice to director--Vote and resolution of stockholders--Filing of certificate. Any trust company, after giving the director prior written notice, may, upon a vote of the holders of at least two-thirds of its capital stock, merge or consolidate with a national banking association, as provided by federal law, by causing a certificate to be filed with the division setting forth the resolution of the stockholders of the trust company and that the resolution has been duly adopted by the holders of at least two-thirds of the capital stock of the company.

Source: SL 1986, ch 401, § 1; SL 1988, ch 377, § 124; SDCL, § 51-19A-20.

State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-06 > Statute-51a-6-20

51A-6-20. Merger or consolidation of trust company with national banking association--Notice to director--Vote and resolution of stockholders--Filing of certificate. Any trust company, after giving the director prior written notice, may, upon a vote of the holders of at least two-thirds of its capital stock, merge or consolidate with a national banking association, as provided by federal law, by causing a certificate to be filed with the division setting forth the resolution of the stockholders of the trust company and that the resolution has been duly adopted by the holders of at least two-thirds of the capital stock of the company.

Source: SL 1986, ch 401, § 1; SL 1988, ch 377, § 124; SDCL, § 51-19A-20.

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State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-06 > Statute-51a-6-20

51A-6-20. Merger or consolidation of trust company with national banking association--Notice to director--Vote and resolution of stockholders--Filing of certificate. Any trust company, after giving the director prior written notice, may, upon a vote of the holders of at least two-thirds of its capital stock, merge or consolidate with a national banking association, as provided by federal law, by causing a certificate to be filed with the division setting forth the resolution of the stockholders of the trust company and that the resolution has been duly adopted by the holders of at least two-thirds of the capital stock of the company.

Source: SL 1986, ch 401, § 1; SL 1988, ch 377, § 124; SDCL, § 51-19A-20.