26-910. NONCONFORMING ASSETS OF BUSINESS. If a merging, converting or selling bank has assets which do not conform to the requirements of state law for the resulting or purchasing state bank or carries on business activities which are not authorized or permitted for the resulting or purchasing state bank, the director may permit a reasonable time to conform with the law of this state, and, in the case of a resulting or purchasing state bank that is not to exercise trust powers, shall require that prompt application be made to a court of competent jurisdiction for the appointment of successor trustees.
History:
[26-910, added 1979, ch. 41, sec. 2, p. 101.]
Structure Idaho Code
Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION
Section 26-901 - RESULTING NATIONAL BANK.
Section 26-902 - RESULTING STATE BANK.
Section 26-903 - MERGER PROCEDURE — RESULTING STATE BANK.
Section 26-904 - MERGER — APPROVAL BY STOCKHOLDERS OF STATE BANKS.
Section 26-906 - CONVERSION OF NATIONAL INTO STATE BANK.
Section 26-907 - CONTINUATION OF CORPORATE ENTITY — USE OF OLD NAME.
Section 26-908 - SALE OF ASSETS OF BANK OR DEPARTMENT.
Section 26-909 - DISSENTING STOCKHOLDERS.