§214c — Title 12 Banks and Banking | U.S. Code

Summary

A national bank cannot change into a state bank, or merge or combine with a state bank under the federal rules here or under section 321, if doing so would violate the laws of the state where the national bank is located. Such a change can only happen if the state’s law lets state banks convert into or merge with national banks without needing state approval and if the state’s rules are not stricter than the limits in section 214a.

Title 12, §214c

Banks and Banking — Source: USLM XML via OLRC

No conversion of a national banking association into a State bank or its merger or consolidation with a State bank shall take place under this subchapter and section 321 of this title in contravention of the law of the State in which the national banking association is located; and no such conversion, merger, or consolidation shall take place under said sections unless under the law of the State in which such national banking association is located State banks may without approval by any State authority convert into and merge or consolidate with national banking associations under limitations or conditions no more restrictive than those contained in section 214a of this title with respect to the conversion of a national bank into, or merger or consolidation of a national bank with, a State bank under State charter.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1954—Act Sept. 3, 1954, substituted “this subchapter and section 321 of this title” for “sections 214 to 214c, 264(e)(2), (i)(2), (v)(4), and 321 of this title”. 1952—Act July 12, 1952, amended section so that the limitation of this section beyond which State law cannot go will be measured by the standard set out in section 214a of this title for National-to-State conversions.

§214c Conversions in contravention of State law

Summary

Title 12, §214c

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata