Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 02 - Banking
Article 4 - Liquidation, Dissolution, and Reorganization
3 AAC 02.310 - Merger
Universal Citation: 3 AK Admin Code 02.310
Current through February 24, 2025
(a) A proposed bank merger of an international, national, or state bank with an Alaska state bank must be accomplished under a merger plan filed with and approved by the department.
(b) Each bank shall approve a merger plan that sets out
(1) the
names of the banks proposing to merge and the name of the bank into which they
propose to merge, referred to in this chapter as the surviving bank;
(2) the terms and conditions of the proposed
merger;
(3) the manner and basis of
converting the shares of each merging bank into shares, other securities, or
obligations of the surviving bank or of any other bank or corporation, in whole
or in part, into cash or other property;
(4) a statement of any amendments to the
articles of incorporation of the surviving bank caused by the merger;
and
(5) other information and
reports required by the department.
(c) Repealed 1/10/94.
Authority:AS 06.05.005(a)
AS 06.05.462
AS 06.05.555
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