Tenn. Code Ann. § 45-2-1313
This is the official text of Tenn. Code Ann. § 45-2-1313, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Merger of bank in financial difficulty
Official statutory text
(a) If a bank is determined to be in financial difficulty by the appropriate regulatory officials, as defined in § 45-2-1402 , it may be merged into any other bank in this state, notwithstanding §§ 45-2-614 and 45-2-1302(a) . (b) The merger procedure shall be the same as that procedure required for a regular merger pursuant to this part except that no notice by publication need be given. (c) Prior to approving a merger pursuant to this section, the appropriate regulatory officials shall determine that alternative methods of protecting the depositors and stockholders of a bank in financial difficulty are not feasible. Acts 1981, ch. 330, § 1.
(a) If a bank is determined to be in financial difficulty by the appropriate regulatory officials, as defined in § 45-2-1402 , it may be merged into any other bank in this state, notwithstanding §§ 45-2-614 and 45-2-1302(a) .
(b) The merger procedure shall be the same as that procedure required for a regular merger pursuant to this part except that no notice by publication need be given.
(c) Prior to approving a merger pursuant to this section, the appropriate regulatory officials shall determine that alternative methods of protecting the depositors and stockholders of a bank in financial difficulty are not feasible.
Acts 1981, ch. 330, § 1.
(a) If a bank is determined to be in financial difficulty by the appropriate regulatory officials, as defined in § 45-2-1402 , it may be merged into any other bank in this state, notwithstanding §§ 45-2-614 and 45-2-1302(a) .
(b) The merger procedure shall be the same as that procedure required for a regular merger pursuant to this part except that no notice by publication need be given.
(c) Prior to approving a merger pursuant to this section, the appropriate regulatory officials shall determine that alternative methods of protecting the depositors and stockholders of a bank in financial difficulty are not feasible.
Acts 1981, ch. 330, § 1.
Status: in_force
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