NRS 666.025 - Effect of consolidation of banks.

NV Rev Stat § 666.025 (2019) (N/A)

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1. When an agreement of consolidation is made and a certified copy thereof is filed with the Secretary of State, together with a certified copy of the approval of the Commissioner of the consolidation, the banks which are parties to the consolidation become one bank, possessed of the rights, privileges, powers and franchises of the several banks, but subject to all the provisions of law under which it is created.

2. The directors and other officers named in the agreement of consolidation shall serve until the first annual meeting for election of officers and directors, the date for which must be named in the agreement.

3. On filing such agreement, the property and rights of every kind of the several banks are thereby transferred and vested in such new bank, and are as fully its property as they were of the banks which were parties to the agreement.

(Added to NRS by 1971, 999; A 1983, 1751; 1987, 1927)

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NRS 666.020 - Powers of Nevada depository institution or its holding company after acquisition of or merger with out-of-state depository institution; applicable laws; powers of Commissioner.

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NRS 666.035 - Consolidation, conversion or merger of state bank with national bank: Minimum vote required; approval by Commissioner; applicable law; determination of value of shares or interests for dissenting stockholders.