32-1-376. Sale of branch bank. Notwithstanding the provisions of 32-1-371 and 32-1-372, a bank located and doing business in this state may, with the approval of the state banking board in the case of a state bank, buy from any other bank also located and doing business in this state all or substantially all of the business, assets, and liabilities of the selling bank's branch bank or branch banks, including the right to own and operate any detached facilities or satellite terminals, upon compliance with the provisions of this part. Upon completion of the sale, the purchasing bank may operate a branch bank at the selling bank's former branch bank location.

     History: En. Sec. 8, Ch. 265, L. 1995.