Information statement.

CFR · 2024-01-01 · US · Title 12

(a) The bank and association shall prepare an information statement which will inform stockholders about the provisions of the proposed transfer of authorities and the effect of the proposal on the bank and the association. (b) The information statement for each institution involved shall contain the following materials as applicable to the institution: (1) A statement either on the first page of the materials or on the notice of the stockholders meeting, in capital letters and boldface type, that: (2) A description of the material provisions of the plan under § 611.520 and the effect of the transaction on the institution, its stockholders, and the territory to be served. (3) A statement enumerating the potential advantages and disadvantages of the proposed transfer including, but not limited to, changes in operating efficiencies, one-stop service, branch offices, local control, and financial condition. (4) A summary of the provisions of the charter and bylaws following the transfer that differ materially from the charter or bylaws currently existing. (5) A brief statement by the board of directors of the institution setting forth the board's opinion on the advisability of the transfer. (6) A presentation of the following financial data: (i) An audited balance sheet and income statement and notes thereto of the bank or the association, as applicable, for the preceding 2 fiscal years. (ii) If the transfer of authority includes any material transfer of assets, a balance sheet a

official document · source cfr-2024 · id 12:§ 611.515