(a) (1) In this section the following words have the meanings indicated. (2) “Capital stock” includes both common and preferred stock. (3) “Converting institution” means a national banking association, a federal stock savings and loan association, or a federal stock savings bank. (4) “Federal stock savings and loan association” means an institution that is incorporated under federal law as a […]
(a) Any commercial bank may convert into a national banking association as provided by federal law. (b) When a commercial bank applies to the Comptroller of the Currency for conversion into a national banking association, it shall file with the Commissioner a written notice of its intent to convert. (c) When the Comptroller of the Currency issues a […]
(a) A commercial bank may dissolve voluntarily, if the stockholders of the commercial bank and the Commissioner approve the dissolution as provided in this section. (b) A proposed voluntary dissolution shall be approved by the affirmative vote of the stockholders of the commercial bank who own two thirds of its capital stock. (c) (1) After a proposed voluntary dissolution […]
In the distribution of the general assets of a trust company that dissolves voluntarily, the person who succeeds the trust company as a personal representative, guardian, trustee, receiver, or other fiduciary has a preference for all debts and accounts that are due to or held by it as fiduciary over all other debts and liabilities, […]
