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Can you summarize IDST Title 26, Chapter 9?
BANKS AND BANKING > CONSOLIDATION, SALE AND REORGANIZATION
Short Summary
This provision, found in the Idaho Statutes under the section on Consolidation, Sale, and Reorganization of Banks and Banking, governs the rights of dissenting stockholders in state bank mergers, conversions, and sales of assets. It outlines the process for determining the value of shares held by dissenting stockholders and the appointment of appraisers. The provision also allows for the fixation of a fair market value for dissenting stockholders’ shares. Additionally, it specifies the continuity of the resulting state or national bank after a merger or conversion, including the inheritance of property, rights, powers, and duties. The provision further addresses the sale of assets of a bank or department, including the authorization and approval process, publication requirements, and the rights of depositors. It also allows for the purchase or sale of branch offices and assumption of deposit liabilities, subject to regulatory requirements. The provision covers the conversion of a national bank into a state bank, outlining the requirements and standards for such conversions. Lastly, it governs the merger procedure for resulting state banks, including the approval process by the director and stockholders of merging banks. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Stockholders, resulting state or national banks, merging banks, converting banks
What does it govern?
Consolidation, Sale, and Reorganization of Banks and Banking
What are exemptions?
No specific exemptions are mentioned.
What are the Penalties?
No penalties are mentioned in this provision.
Jurisdiction
Idaho