2015 US Code
Title 12 - Banks and Banking (Sections 1 - 5710)
Chapter 2 - National Banks (Sections 21 - 216d)
Subchapter XV - Conversion of National Banks Into State Banks (Sections 214 - 214d)
Sec. 214b - Continuation of business and corporate entity
| Publication Title | United States Code, 2012 Edition, Supplement 3, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 2 - NATIONAL BANKS SUBCHAPTER XV - CONVERSION OF NATIONAL BANKS INTO STATE BANKS Sec. 214b - Continuation of business and corporate entity |
| Contains | section 214b |
| Date | 2015 |
| Laws In Effect As Of Date | January 3, 2016 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Aug. 17, 1950, ch. 729, §3, 64 Stat. 456. |
| Statutes at Large Reference | 64 Stat. 456 |
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The franchise of a national banking association as a national banking association shall automatically terminate when its conversion into or its merger or consolidation with a State bank under a State charter is consummated and the resulting State bank shall be considered the same business and corporate entity as the national banking association, although as to rights, powers, and duties the resulting bank is a State bank. Any reference to such national banking association in any contract, will, or document shall be considered a reference to the State bank if not inconsistent with the provisions of the contract, will, or document or applicable law.
(Aug. 17, 1950, ch. 729, §3, 64 Stat. 456.)
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