2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION
Section 26-903 - MERGER PROCEDURE -- RESULTING STATE BANK.
(2) After approval by the board of directors of each merging state bank, the merger agreement shall be submitted to the director for approval, together with certified copies of the authorizing resolutions of each board of directors showing approval by a majority of the entire board of each merging state bank and evidence of proper action by the board of directors of any merging national bank.
(3) After receipt by the director of the papers specified in subsection (a), the director shall approve or disapprove the merger agreement. The director shall approve the agreement if it finds that:
(4) If the director disapproves an agreement, the objections shall be stated in writing and the merging banks shall be given an opportunity to amend the merger agreement to obviate such objections.
History:
[26-903, added 1979, ch. 41, sec. 2, p. 97.]
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