An out-of-state state bank that has established and maintains a branch in this state pursuant to the Interstate Bank Branching Act shall give at least thirty days prior written notice or, in the case of an emergency transaction, shorter notice consistent with applicable state or federal law to the director of any merger, consolidation or other transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank if the result of the transaction would require an application to be filed pursuant to the federal Change in Bank Control Act of 1978, 12 U.S.C.A. Section 1817(j) or the federal Bank Holding Company Act of 1956, 12 U.S.C.A. Section 1841 et seq.
History: Laws 1996, ch. 2, § 26.
ANNOTATIONSSeverability clauses. — Laws 1996, ch. 2, § 27 provides that if any part of the Interstate Branch Banking Act is held invalid or to be superseded, the remainder or its application to other situations or persons shall not be affected.