Section 81-14-113 - Merger of savings banks where ownership is converted

(1) Any two (2) or more state mutual savings banks may merge to form a single state stock savings bank in separate merger-conversion proceedings or in simultaneous merger-conversion proceedings.(2) Any two (2) or more state stock savings banks may merge to form a single state mutual savings bank in separate merger-conversion proceedings or in simultaneous merger-conversion proceedings.(3) The commissioner may promulgate rules and regulations to facilitate the transition from two (2) or more savings banks to a single savings bank under a new form of ownership.Laws, 1992, ch. 489, § 32; reenacted without change, Laws, 1997, ch. 364, § 32; reenacted without change, Laws, 2001, ch. 457, § 32, eff. 7/1/2001.