2019 US Virgin Islands Code
Title 9 - Banking
Chapter 7 - Merger or Consolidation
§ 83. Action by stockholders on such agreement

The aforesaid agreement shall be submitted separately for consideration to the stockholders of each of the merging or consolidating financial institutions, at a meeting called for the purpose. A written notice shall be sent to the post-office address of each stockholder, not less than twenty days prior to the date fixed for the meeting. Said notice shall specify the place and purpose of the meeting at which the aforesaid agreement of the directors will be considered, and the stockholders of the financial institutions to be merged or consolidated shall vote separately for or against said agreement. Each share of stock or other interest, as applicable, shall entitle the holder thereof to one vote to be cast by the stockholder himself or by his proxy. In case the votes of the stockholders of three-fourths of the shares of capital stock issued by each of the corporations, or of the other interests, as applicable, of such other entity or entities, to be merged or consolidated are cast in favor of the aforesaid agreement, the fact shall be certified by the secretary of each of the respective corporations or other appropriate officer of such other entity or entities, under the seal thereof, and said agreement, thus approved and certified, shall be submitted to the Banking Board for approval or disapproval.