Delaware Code Title 5 Sec. 785 – Merger procedure for resulting state bank
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Following the approval of the merger agreement both in substance and in form by the State Bank Commissioner, the procedure for a merger which is to result in a state bank and the legal effect of any such merger (except as regards the rights of dissenting stockholders to payment for their shares) and the manner of making and effecting the same shall be as prescribed in Chapter 1 of Title 8 for the merger or consolidation of 2 or more corporations organized under the provisions of that chapter.
5 Del. C. 1953, § ?785; 49 Del. Laws, c. 126; 57 Del. Laws, c. 740, § ?19E;
Terms Used In Delaware Code Title 5 Sec. 785
- Bank: means a state or a national bank. See Delaware Code Title 5 Sec. 781
- Merger: includes consolidation. See Delaware Code Title 5 Sec. 781
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- State bank: means a bank or trust company chartered under the laws of this State. See Delaware Code Title 5 Sec. 781