
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC214b]

 
                       TITLE 12--BANKS AND BANKING
 
                        CHAPTER 2--NATIONAL BANKS
 
      SUBCHAPTER XV--CONVERSION OF NATIONAL BANKS INTO STATE BANKS
 
Sec. 214b. Continuation of business and corporate entity

    The franchise of a national banking association as a national 
banking association shall automatically terminate when its conversion 
into or its merger or consolidation with a State bank under a State 
charter is consummated and the resulting State bank shall be considered 
the same business and corporate entity as the national banking 
association, although as to rights, powers, and duties the resulting 
bank is a State bank. Any references to such national banking 
association in any contract, will, or document shall be considered a 
reference to the State bank if not inconsistent with the provisions of 
the contract, will, or document or applicable law.

(Aug. 17, 1950, ch. 729, Sec. 3, 64 Stat. 456.)
