Section 5-7A-20 Conversion of national bank, etc., into state bank – Procedure. Any bank organized under the laws of the United States may, by the vote of the stockholders owning not less than a majority of the capital stock of such bank with the approval of the superintendent and upon the payment by it to […]
Section 5-7A-21 Conversion of national bank, etc., into state bank – Execution of articles of incorporation and organization certificate; powers of directors, etc. In case of such conversion, the articles of incorporation and organization certificates may be executed by a majority of the directors of the bank and the certificate shall declare that the owners […]
Section 5-7A-22 Conversion of national bank, etc., into state bank – Powers and duties of bank, stockholders, officers, etc., upon issuance of certificate. (a) When the superintendent has given to such bank a certificate that the provisions of this article have been complied with, such bank and all its stockholders, officers and employees shall have […]
Section 5-7A-23 Declaration of incorporation. Before the issuing of such certificate by the superintendent a majority of the directors of such bank shall file in the office of the official or officials with which a certificate of incorporation would be filed under the business corporation laws of this state a declaration of incorporation, which shall […]
Section 5-7A-24 Issuance of stock by state bank. Such state bank shall have authority to issue to the stockholders of the national bank from which it was converted shares of stock of the same amount and of the same par value as is held by each of said stockholders in such national bank. (Acts 1980, […]
