New Mexico Statutes 58-4-6. Effective date of merger; filing of approved agreement;
certificate of merger as evidence.
Terms Used In New Mexico Statutes 58-4-6
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- merger: includes consolidation. See New Mexico Statutes 58-4-1
- merging bank: means a party to a merger. See New Mexico Statutes 58-4-1
- resulting bank: means the bank resulting from a merger or conversion. See New Mexico Statutes 58-4-1
A. A merger or sale which is to result in a state bank shall, unless a late date is specified in the agreement, become effective upon the filing with the director of the financial institutions division of the executed agreement together with copies of the resolutions of the stockholders of each merging, purchasing and selling bank approving it and a list of the owners of the shares [who] voted against the merger or purchase, certified by the bank’s president or vice president and a secretary or cashier. The charters of the merging banks, other than the resulting bank, shall thereupon automatically terminate.
B. The director of the financial institutions division shall promptly issue to the resulting bank a certificate of merger specifying the name of each merging bank and the name of the resulting state bank. Such certificate shall be conclusive evidence of the merger and of the correctness of all proceedings therefor 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 merging banks is held.