§ 214c. — Conversions in contravention of State law.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC214c]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER XV--CONVERSION OF NATIONAL BANKS INTO STATE BANKS
Sec. 214c. Conversions in contravention of State law
No conversion of a national banking association into a State bank or
its merger or consolidation with a State bank shall take place under
this subchapter and section 321 of this title in contravention of the
law of the State in which the national banking association is located;
and no such conversion, merger, or consolidation shall take place under
said sections unless under the law of the State in which such national
banking association is located State banks may without approval by any
State authority convert into and merge or consolidate with national
banking associations under limitations or conditions no more restrictive
than those contained in section 214a of this title with respect to the
conversion of a national bank into, or merger or consolidation of a
national bank with, a State bank under State charter.
(Aug. 17, 1950, ch. 729, Sec. 4, 64 Stat. 456; July 12, 1952, ch. 696,
66 Stat. 590; Sept. 3, 1954, ch. 1263, Sec. 25, 68 Stat. 1235.)
Amendments
1954--Act Sept. 3, 1954, substituted ``this subchapter and section
321 of this title'' for ``sections 214 to 214c, 264(e)(2), (i)(2),
(v)(4), and 321 of this title''.
1952--Act July 12, 1952, amended section so that the limitation of
this section beyond which State law cannot go will be measured by the
standard set out in section 214a of this title for National-to-State
conversions.
