666.045 - Merger or consolidation of national bank with state bank; incorporation of national bank as state bank. - Nevada Statutes

666.045  Merger or consolidation of national bank with state bank; incorporation of national bank as state bank.

      1.  Any national bank doing business in this state may, with the approval of the Commissioner, merge or consolidate with a state bank or incorporate as a state bank as provided in this title for the organization of banks.

      2.  The Commissioner shall, when approving or rejecting the proposed merger or consolidation, base his or her decision on the considerations provided in NRS 666.035.

      3.  The Commissioner may accept good assets of the national bank, at their actual cash value, in lieu of cash payments for the stock of the state bank.

      (Added to NRS by 1971, 1000; A 1981, 1431; 1983, 1752; 1987, 1928)

      NRS 666.055  Fiduciary powers and liabilities of banks merging or transferring assets and liabilities.  When any bank organized under the laws of this state or Acts of Congress, and doing business in this state, consolidates or merges with or sells to and transfers its assets and liabilities to any other bank doing business in this state, as provided by the laws of this state or Acts of Congress, all the then existing fiduciary rights, powers, duties and liabilities of such consolidating, merging or transferring bank or banks shall, upon the effective date of such consolidation, merger or sale and transfer, vest in and thereafter be performed by the transferee bank or the consolidated or merged bank.

      (Added to NRS by 1971, 1000)