655.412 Merger and consolidation.—
(1) With the approval of the office, any capital stock financial institution may be merged into or consolidated with another capital stock financial institution or a mutual financial institution. The provisions of ss. 658.41-658.45 govern any merger or consolidation pursuant to this subsection; and, for this purpose, references therein to banks and trust companies are deemed to refer to capital stock financial institutions.
(2) A mutual financial institution may not be merged into a capital stock financial institution until it has first converted into a capital stock financial institution in accordance with s. 665.033(1) and (2). For this purpose, references in s. 665.033(1) and (2) to associations are deemed to refer also to credit unions; but, in the case of a credit union, the provision therein concerning proxy statements does not apply.
(3) An application to merge or consolidate pursuant to this section must be accompanied by a filing fee in accordance with s. 658.73.
History.—s. 4, ch. 82-214; s. 1, ch. 85-65; s. 1, ch. 91-307; ss. 1, 33, ch. 92-303; s. 1725, ch. 2003-261.
Section: Previous 655.057 655.059 655.0591 655.061 655.071 655.41 655.411 655.412 655.414 655.416 655.417 655.418 655.4185 655.419 655.50 NextLast modified: September 23, 2016