Approval of commissioner

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  1. (a) If the Bank Commissioner approves the merger and finds that all required filing fees and investigative costs have been paid, the commissioner shall:

    1. (1) Endorse the face of the original and each copy with the date of approval and the word “Approved”;

    2. (2) File the original in the State Bank Department's records; and

    3. (3) Deliver a certified copy of the articles of merger to each surviving, new, or acquiring entity.

  2. (b) A merger is effective on the date of approval, unless the merger agreement provides and the commissioner consents to a different effective date.


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