45-2-1313 - Merger of bank in financial difficulty. - Tennessee Statutes

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45-2-1313. Merger of bank in financial difficulty.

(a) If a bank is determined to be in financial difficulty by the appropriate regulatory officials, as defined in § 45-2-1402, it may be merged into any other bank in this state, notwithstanding §§ 45-2-614 and 45-2-1302(a).

(b) The merger procedure shall be the same as that procedure required for a regular merger pursuant to this part except that no notice by publication need be given.

(c) Prior to approving a merger pursuant to this section, the appropriate regulatory officials shall determine that alternative methods of protecting the depositors and stockholders of a bank in financial difficulty are not feasible.

[Acts 1981, ch. 330, § 1.]

State Codes and Statutes

Statutes > Tennessee > Title-45 > Chapter-2 > Part-13 > 45-2-1313

45-2-1313. Merger of bank in financial difficulty.

(a) If a bank is determined to be in financial difficulty by the appropriate regulatory officials, as defined in § 45-2-1402, it may be merged into any other bank in this state, notwithstanding §§ 45-2-614 and 45-2-1302(a).

(b) The merger procedure shall be the same as that procedure required for a regular merger pursuant to this part except that no notice by publication need be given.

(c) Prior to approving a merger pursuant to this section, the appropriate regulatory officials shall determine that alternative methods of protecting the depositors and stockholders of a bank in financial difficulty are not feasible.

[Acts 1981, ch. 330, § 1.]

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State Codes and Statutes

Statutes > Tennessee > Title-45 > Chapter-2 > Part-13 > 45-2-1313

45-2-1313. Merger of bank in financial difficulty.

(a) If a bank is determined to be in financial difficulty by the appropriate regulatory officials, as defined in § 45-2-1402, it may be merged into any other bank in this state, notwithstanding §§ 45-2-614 and 45-2-1302(a).

(b) The merger procedure shall be the same as that procedure required for a regular merger pursuant to this part except that no notice by publication need be given.

(c) Prior to approving a merger pursuant to this section, the appropriate regulatory officials shall determine that alternative methods of protecting the depositors and stockholders of a bank in financial difficulty are not feasible.

[Acts 1981, ch. 330, § 1.]