Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 04 - Trust Companies
Article 6 - Organic Change
3 AAC 04.520 - Merger
Universal Citation: 3 AK Admin Code 04.520
Current through February 24, 2025
(a) A national bank whose main office is located in the state or a state bank whose main office is located in the state may merge with a trust company, and a trust company may merge with another trust company, under a merger plan filed with and approved by the department.
(b) Each national bank, state bank, and trust company shall approve a merger plan that sets out
(1) the names of the national banks, state
banks, and trust companies proposing to merge and the name of the surviving
trust company into which they propose to merge;
(2) the terms and conditions of the proposed
merger;
(3) the manner and basis of
converting the shares of each merging national bank, state bank, and trust
company into cash or other property, or into shares, other securities, or
obligations of the surviving trust company;
(4) a copy of any amendments to the articles
of incorporation of the surviving trust company caused by the merger;
and
(5) any additional information
requested by the department, and that the department considers necessary to
make an informed decision on the proposed merger.
Authority:AS 06.26.650
AS 06.26.660
AS 06.26.900
Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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