(1) Unless a later date is specified in the agreement, a merger becomes effective upon the approval by the banking board of the executed agreement, together with copies of the resolutions of the stockholders of each constituent bank approving it, certified by the bank's president or a vice-president and a secretary. The charters of the constituent banks, other than the resulting bank, shall thereupon be deemed surrendered.
(2) After approval of the agreement, the banking board shall issue to the resulting bank a certificate of merger, setting forth the name of each constituent bank and the name of the resulting state bank. The certificate is conclusive evidence of the merger and of the correctness of all proceedings for the merger in all courts and places and may be recorded in any office for the recording of deeds to evidence the new name in which the property of the constituent banks is held.
Source: L. 2003: Entire article added with relocations, p. 1097, § 3, effective July 1. L. 2013: Entire section amended, (SB 13-154), ch. 282, p. 1481, § 45, effective July 1.
Editor's note: This section is similar to former § 11-4-106 as it existed prior to 2003.