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12 U.S.C. § 215b — Definitions
Federal law — U.S. Code and appendices · legal_authorities
As used in this subchapter, the term—
(1) “State bank” means any bank, banking association, trust company, savings bank (other than a mutual savings bank), or other banking institution which is engaged in the business of receiving deposits and which is incorporated under the laws of any State, or which is operating under the Code of Law for the District of Columbia;
(2) “State” means the several States and Territories, the Commonwealth of Puerto Rico, the Virgin Islands, and the District of Columbia;
(3) “Comptroller” means the Comptroller of the Currency; and
(4) “Receiving association” means the national banking association into which one or more national banking associations or one or more State banks, located within the same State, merge.
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Source location: Title 12, Chapter 2, § 215b; chapter-002-national-banks.md
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As used in this subchapter, the term—
(1) “State bank” means any bank, banking association, trust company, savings bank (other than a mutual savings bank), or other banking institution which is engaged in the business of receiving deposits and which is incorporated under the laws of any State, or which is operating under the Code of Law for the District of Columbia;
(2) “State” means the several States and Territories, the Commonwealth of Puerto Rico, the Virgin Islands, and the District of Columbia;
(3) “Comptroller” means the Comptroller of the Currency; and
(4) “Receiving association” means the national banking association into which one or more national banking associations or one or more State banks, located within the same State, merge.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Act Nov. 7, 1918, ch. 209, 40 Stat. 1043, as amended, formerly classified to sections 33 to 34c of this title, which related to consolidation and merger of national banking associations and such associations and State banks, was completely amended by Pub. L. 86–230, § 20, Sept. 8 1959 73 Stat. 460, and is classified to sections 215 to 215b of this title.
Section 33, acts Nov. 7, 1918, ch. 209, § 1, 40 Stat. 1043; June 16, 1933, ch. 89, § 24(a), 48 Stat. 190; Aug. 23, 1935, ch. 614, § 330, 49 Stat. 718, related to consolidation of national banks, capital stock, dissenting shareholders, notice and valuation of shares. See [section 215 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section215&num=0&edition=prelim).
Section 34, act Nov. 7, 1918, ch. 209, § 2, 40 Stat. 1044, related to effect of consolidation on rights and liabilities. See [section 215 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section215&num=0&edition=prelim).
Section 34a, act Nov. 7, 1918, ch. 209, § 3, as added Feb. 25, 1927, ch. 191, § 1, 44 Stat. 1225, and amended June 16, 1933, ch. 89 § 24, 48 Stat. 190; Aug. 23, 1935, ch. 614, § 331, 49 Stat. 719; July 14, 1952, ch. 722, § 2, 66 Stat. 601, related to consolidation of State bank, etc. with national bank, capital stock and dissenting shareholders. See [section 215 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section215&num=0&edition=prelim).
Section 34b, act Nov. 7, 1918, ch. 209, § 4, as added July 14, 1952, ch. 722, § 1, 66 Stat. 599, related to merger of national banking associations or State banks into national banking associations. See [section 215a of this title](https://uscode.house.gov/vi
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Federal law — U.S. Code and appendices · legal_authorities
Page 78
TITLE 12—BANKS AND BANKING
§ 215a–2
‘‘out-of-State bank’’. However, such terms are defined
elsewhere in that section.
§ 215a–2. Expedited procedures for certain reor-
ganizations
(a) In general
A national bank may, with the approval of the
Comptroller, pursuant to rules and regulations
promulgated by the Comptroller, and upon the
affirmative vote of the shareholders of such
bank owning at least two-thirds of its capital
stock outstanding, reorganize so as to become a
subsidiary of a bank holding company or of a
company that will, upon consummation of such
reorganization, become a bank holding com-
pany.
(b) Reorganization plan
A reorganization authorized under subsection
(a) shall be carried out in accordance with a re-
organization plan that—
(1) specifies the manner in which the reorga-
nization shall be carried out;
(2) is approved by a majority of the entire
board of directors of the national bank;
(3) specifies—
(A) the amount of cash or securities of the
bank holding company, or both, or other
consideration to be paid to the shareholders
of the reorganizing bank in exchange for
their shares of stock of the bank;
(B) the date as of which the rights of each
shareholder to participate in such exchange
will be determined; and
(C) the manner in which the exchange will
be carried out; and
(4) is submitted to the shareholders of the
reorganizing bank at a meeting to be held on
the call of the directors in accordance with
the procedures prescribed in connection with a
merger of a national bank under section 215a
of this title.
(c) Rights of dissenting shareholders
If, pursuant to this section, a reorganization
plan has been approved by the shareholders and
the Comptroller, any shareholder of the bank
who has voted against the r
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