Expedited procedures for certain reorganizations of a national bank.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (d) (2) (i) Specifies the manner in which the reorganization will be carried out; (ii) Is approved by a majority of the entire board of directors of the national bank; (iii) Specifies: (A) The amount and type of consideration that the bank holding company (B) The date as of which the rights of each shareholder to participate in that exchange will be determined; and (C) The manner in which the exchange will be carried out; (iv) Is submitted to the shareholders of the reorganizing bank at a meeting to be held at the call of the directors in accordance with the procedures prescribed in connection with a merger of a national bank under section 3 of the National Bank Consolidation and Merger Act, 12 U.S.C. 215a(a)(2); and (v) Describes any changes to the bank's business plan resulting from the reorganization. (3) (4) (e) (f) (g) (h) (2) Any filer not subject to the registration provisions of the Securities Exchange Act of 1934 must submit the proxy materials or information statements it uses in connection with the reorganization to the appropriate OCC licensing office no later than when the materials are sent to the shareholders.

official document · source cfr-2024 · id 12:§ 5.32