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The Florida Senate

2006 Florida Statutes

Definitions for merger and consolidation.
Section 658.40, Florida Statutes 2006

658.40  Definitions for merger and consolidation.--As used in the provisions of this code relating to the merger and consolidation of banks and trust companies, unless the context requires otherwise:

(1)  "Constituent bank or trust company" means a bank or a state trust company which is a party to a merger.

(2)  "Merger" includes consolidation.

(3)  "Resulting bank or trust company" means the consolidated bank or state trust company which is, or is to be, carrying on business upon completion of a consolidation; and, in the case of a merger, means the bank or state trust company into which the other constituent banks or trust companies are, or are to be, merged.

(4)  "Successor institution" means a banking corporation or a trust company organized under the laws of this state to which the office has not issued a certificate of authorization, as provided in s. 658.25, to conduct a banking business or trust business, the sole purpose of the organization of which is to facilitate a plan of merger, reorganization, or consolidation.

History.--s. 4, ch. 28016, 1953; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 30, 151, 152, ch. 80-260; ss. 2, 3, ch. 81-318; ss. 27, 51, ch. 84-216; s. 1, ch. 91-307; ss. 1, 124, ch. 92-303; s. 1785, ch. 2003-261.

Note.--Former s. 661.01.