658.41  Merger; resulting state or national bank.--

(1)  Upon filing of an application with the department by the constituent banks or trust companies, and upon approval by the department, banks and state trust companies may be merged with a resulting state bank or state trust company, as prescribed in this code, except that the action by a constituent national bank shall be taken in the manner prescribed by, and shall be subject to, any limitations or requirements imposed by any law of the United States applicable thereto, which shall also govern the rights of its dissenting shareholders; and the terms and provisions of the plan of merger and merger agreement required by s. 658.42, as they relate to a constituent national bank, shall conform with such federal laws. The application shall be accompanied by a plan of merger and merger agreement as provided in s. 658.42.

(2)  Nothing in the law of this state shall restrict the right of a state bank or state trust company to merge with a resulting national bank. In such case the action to be taken by a constituent state bank or state trust company, and its rights and liabilities and those of its shareholders, shall be the same as those prescribed for constituent national banks at the time of the action by the applicable law of the United States and not by the law of this state.

History.--s. 4, ch. 28016, 1953; ss. 12, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 31, 151, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; s. 1, ch. 92-303.