6.1-43 - (Repealed effective October 1, 2010) Merger or share exchange authorized; laws applicable.
§ 6.1-43. (Repealed effective October 1, 2010) Merger or share exchangeauthorized; laws applicable.
Virginia banks as defined in § 6.1-44.16 may merge upon compliance with theprovisions of Article 12 (§ 13.1-715.1 et seq.) of the Virginia StockCorporation Act. However, the provisions of § 13.1-716 that relate to amerger with a foreign corporation as foreign eligible entity shall not apply,except as hereafter provided; the provisions of § 13.1-730 shall not apply toa merger under this section. The provisions of § 13.1-716 relating to mergershall apply to the merger of a state and a national bank if the national bankis engaged in business in Virginia, and if the state bank is to be thesurviving bank. A national bank shall be treated as if it were a foreigncorporation and as if the United States were the state where it is organized.A bank may enter into a share exchange, as permitted by § 13.1-717, providedthere is also compliance with Chapter 13 (§ 6.1-381 et seq.) or Chapter 15 (§6.1-398 et seq.) of this title. The exclusion in § 6.1-387 shall not apply inthe case of such an exchange of shares.
(Code 1950, § 6-20; 1952, c. 571; 1956, c. 433; 1966, c. 584; 1987, c. 423;1995, c. 301; 2005, c. 765.)