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12 U.S.C. § 215

Section 215 - Consolidation of banks within same State
Section 215 - Consolidation of banks within same State

3 Citing briefs

  1. ROSE v. BANK OF AMERICA (Mauro, J., assigned justice pro tempore; Chin, J., not participating)

    Respondent’s Exhibits in Support of Request for Judicial Notice

    Filed July 17, 2012

    Section 215. Disposition offoreclosed assets Section 215 provides bank holding companie s with the same flexibility as national banks by providing the Board with the au- thority to approve applications to hold forec losed stock an addi- tional five years. Under current law, bank ho lding companies are accorded up to five years to dispose of forecl osed assets.

  2. Main Street Bancshares, Inc. et al v. Market Street Bancshares, Inc. et al

    MOTION to Dismiss for Failure to State a Claim

    Filed May 30, 2017

    To obtain such approval, a national bank intending to acquire another insured depository institution must file an application with the OCC, who then must review and issue a decision. Id.; 12 U.S.C. § 215(c)(a). However, as a result of direct action by Peoples, which will be discussed further herein, federal approval from the OCC was never obtained with respect to the Merger Agreement.

  3. First National Bank of Pennsylvania v. Transamerica Life Insurance Company et al

    REPLY BRIEF re Motion for Summary Judgment IN SUPPORT

    Filed February 2, 2017

    This argument is belied by the plain meaning of the word “procedures,” a point that is driven home by one of FNB’s own authorities. In its Opposition, FNB cites a decision in which the OCC stated that 12 U.S.C. §§ 215 & 215a “contain the procedures, requirements, conditions, and rules for the status of the resulting institution that govern all consolidations and mergers that occur under the Act.” OCC Conditional Approval No. 658, 2004 WL 2725968, at *20 n.35 (cited in Opp.