Section 3-701 - Definitions

(a) In this subtitle the following words have the meanings indicated. (b) 'Bank' means a commercial bank, a national banking association, an other-state bank, or a federally chartered savings bank or savings and loan association. (c) 'Constituent bank' means a party to a consolidation, merger, or transfer of assets. (d) 'Successor' means the bank that carries on the business of the constituent banks after a consolidation, merger, or transfer of assets. (e) 'Transfer assets', 'transfer its assets', or 'transfer of assets' means to sell, lease, exchange, or otherwise transfer all or substantially all of the property and assets of a constituent bank.