17:16J-9. Methods; supervisory merger
A merger agreement shall provide for supervisory mergers by any one, or by any combination of, or by all of the following methods:
a. The exchange of shares of capital stock of each merging depository for shares of capital stock of the receiving or resulting depository;
b. The exchange of shares of capital stock of each merging depository for shares of capital stock of a company;
c. The exchange of shares of capital stock of each merging depository for capital notes or mutual capital certificates of the receiving or resulting depository;
d. The exchange of shares of capital stock of each merging depository for cash or mutual capital certificates received from the receiving or resulting depository or company;
e. The exchange of shares of capital stock of each merging depository for the capital notes of a company when the receiving depository is a subsidiary of the company;
f. The transfer, sale, or exchange of all or any part of the assets of a depository to the receiving depository for cash, capital stock, mutual capital certificates, or accounts;
g. Any other method approved by the commissioner.
L.1982, c. 8, s. 9, eff. March 4, 1982.
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Last modified: October 11, 2016