RS 6:351 – Authorization for mergers, consolidations, and share exchanges A. Any two or more state banks, and any one or more state banks and any one or more national banks, may, upon approval of the commissioner if the surviving or consolidated bank will be a state bank, be: (1) Merged into one of the […]
RS 6:352 – Merger or consolidation procedure Merger or consolidation may be effected only as a result of a joint agreement entered into, approved, and filed as follows: (1) The board of directors of each of the banks which desires to merge or consolidate may enter into a joint agreement signed by a majority of […]
RS 6:352.1 – Share exchange procedure A. With the approval of the commissioner, all of the outstanding shares of one or more classes or series of capital stock of a financial institution may be acquired by another bank, savings bank or association, or a holding company or holding company in formation for any of the […]
RS 6:353 – Consolidation; articles of incorporation A. If the joint agreement is for a consolidation into a new bank to be formed under this law, articles of incorporation for the new bank shall be prepared in the manner and form prescribed by law except that: (1) The banks consolidating shall be named as the […]
RS 6:354 – When merger or consolidation effective A. A merger shall be effective when the joint agreement has been recorded by the commissioner as of the time of filing of the agreement with the commissioner or as of any later effective time not more than thirty days after the date of filing stated in […]
RS 6:355 – Effect of merger or consolidation Upon the effectiveness of the merger or consolidation, the effect thereof shall be that: A. The several parties to the joint agreement shall be one bank which shall be: (1) In the case of merger, one of the constituent banks into which it has been agreed that […]
