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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 3. Commerce, Community, and Economic Development. |
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Part 3.1. Banking, Securities, Small Loans and Corporations. |
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Chapter 3.04. Trust Companies. |
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Article 3.04.6. Organic Change. |
Section 3.04.520. Merger.
Latest version.
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(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.
Authorities
06.26.650;06.26.660;06.26.900