Interstate Merger Transaction Law and Legal Definition
An interstate merger transaction generally involves the acquisition of a branch of an nsured bank without the acquisition of the bank only if the law of the State in which the branch is located permits out-of-State banks to acquire a branch of a bank in such State without acquiring the bank.
Following is an example of a state statute defining the term:
"Interstate merger transaction" means:
(1)The merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or
(2)The purchase of all or substantially all of the assets, including all or substantially all of the branches, of a bank whose home state is different from the home state of the acquiring bank. [Code of Ala. § 5-13B-21.]
Legal Definition list
- Interstate Identification Index
- Interstate Highway System
- Interstate Fishery Management Plan
- Interstate Corrections Compact
- Interstate Compact on the Placement of Children (ICPC)
- Interstate Merger Transaction
- Interstate Off-Track Wager
- Interstate or Foreign Commerce
- Interstate Pipeline
- Interstate Pollution Abatement
- Interstate Rendition
Related Legal Terms
- ABC Transaction [Oil & Gas]
- Affect Interstate And Foreign Commerce
- Agency Transaction (Securities)
- Alternative Mortgage Transaction [Banks & Banking]
- Arms Length Transaction
- Asset Exchange or Conversion Transaction
- Automated Transaction
- Basket Transactions
- Bona Fide Hedging Transactions and Positions
- Celler-Kefauver Anti-merger Act
