TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 310 MINIMUM ORGANIZATIONAL CAPITAL REQUIREMENTS FOR BANKS AND TRUST COMPANIES
SECTION 310.330 MERGER OR CONSOLIDATION OF TRUST COMPANIES


 

Section 310.330  Merger or Consolidation of Trust Companies

 

In any merger or consolidation resulting in a trust company made pursuant to Section 3-1 of the Corporate Fiduciary Act, the resulting trust company must meet the minimum organizational capital requirement in effect at the time of the merger or consolidation.  In such cases, the current capital requirement must be met even if a lower capital requirement previously had applied to any or all of the merging or consolidating parties.