Fla. Admin. Code Ann. R. 69U-105.607 - Approval by OFR
Current through Reg. 47, No. 249; December 28, 2021
(1) After approval
by the board of directors of each constituent financial institution, the plan
of merger and merger agreement containing those items set forth in Section
658.42,
F.S., shall be submitted to OFR for approval, together with certified copies of
the authorizing resolutions of the boards of directors of each constituent
financial institution, state or national, showing approval by a majority of the
entire board.
(2) An order
approving or denying the application will be entered with regard to the merits
of the application within the time limits set forth in Rules
69U-105.101 thru
69U-105.115, F.A.C. The order will contain findings of fact accompanied by a
concise statement of the underlying facts which support the findings. Said
order may impose upon applicants such conditions as necessary under applicable
law. A copy of the order and statement will be served on the
applicants.
(3) Subsequent to
approval by OFR of the merger agreement, to be effective, a merger must be
approved by the stockholders of each constituent financial institution by a
majority vote of the outstanding voting stock at a meeting called to consider
such action, which vote shall constitute the adoption of the articles of
incorporation of the resulting state financial institution, including the
amendments set forth in the merger agreement.
Notes
The following state regulations pages link to this page.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.