32-1-370. Interstate merger of banks -- interstate agreements. (1) A bank located in this state that has been in existence at least 5 years is authorized to enter into a merger transaction with a bank not located in this state. Prior approval of the department is required if the resulting bank in a merger transaction authorized by this section is a bank organized under the laws of this state.
     (2) With respect to interstate banking authorized in subsection (1), the department may enter into agreements with other states establishing the division of supervisory responsibilities between the state in which a bank is organized and the state or states in which branch banks may be located.

     History: En. Sec. 16, Ch. 117, L. 1997; amd. Sec. 2, Ch. 105, L. 2003.