2006 Alabama Code - Chapter 7A — BANK MERGER, CONSOLIDATION OR CONVERSION.

Article 1 Consolidation, Merger or Transfer of State Banks.

• Section 5-7A-1 — Banks may merge or consolidate; transfer of place of business.
• Section 5-7A-2 — Proceedings to effect consolidation, merger or transfer.
• Section 5-7A-3 — Certificate of proceedings to be forwarded to Superintendent of Banks.
• Section 5-7A-4 — Issuance of certificate of approval by superintendent.
• Section 5-7A-5 — Examinations; written consent of superintendent to consolidation.
• Section 5-7A-6 — Appeals; applicability of article to branch banks, etc.

Article 2 Conversion of National Banks Into State Banks.

• Section 5-7A-20 — Conversion of national bank, etc., into state bank - Procedure.
• Section 5-7A-21 — Conversion of national bank, etc., into state bank - Execution of articles of incorporation and organization certificate; powers of directors, etc.
• Section 5-7A-22 — Conversion of national bank, etc., into state bank - Powers and duties of bank, stockholders, officers, etc., upon issuance of certificate.
• Section 5-7A-23 — Declaration of incorporation.
• Section 5-7A-24 — Issuance of stock by state bank.

Article 3 Conversion of State Banks Into or Consolidation With National Banks.

• Section 5-7A-40 — Authorized; exchange of stock.
• Section 5-7A-41 — Meeting of stockholders for purpose of conversion or consolidation.
• Section 5-7A-42 — Transfer of property of state bank to national bank.
• Section 5-7A-43 — Continuation of identity, obligations, etc., of state bank.
• Section 5-7A-44 — Rights of dissenting shareholders.
• Section 5-7A-46 — Sections not to affect general or local law, etc.

Article 4 Conversion of Savings Institutions Into State Banks.

• Section 5-7A-60 — Purpose.
• Section 5-7A-61 — Definitions.
• Section 5-7A-62 — Application to convert charter; written plan of conversion; authorizing resolution; submission to superintendent; fee; tentative approval; vote of stockholders or members; directors; articles of incorporation and bylaws; statement of superintendent's objections; amendment; appeal of disapproval; application to FDIC; final approval and permit.
• Section 5-7A-63 — Resulting bank as continuation of savings institution.
• Section 5-7A-64 — Maintenance and operation of offices.
• Section 5-7A-65 — Expansion or branching limited.