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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 214b Continuation of business and corporate entity us united_states_code code_section 12 BANKS AND BANKING 2 NATIONAL BANKS 214b 12 U.S.C. § 214b current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s214b data/legal/raw/us/code/title-12/usc12.xml 6ccfb6aa503be52f3f8d0c2b5703b777b0d0798cbf3aeb56205dc575929f4494 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa f87e06a217f72cf5bdf5f23756fddf9aa57e0c35cbc882f187979417b9506085 2026-07-04 official
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12 U.S.C. § 214b - Continuation of business and corporate entity

Text

The franchise of a national banking association as a national banking association shall automatically terminate when its conversion into or its merger or consolidation with a State bank under a State charter is consummated and the resulting State bank shall be considered the same business and corporate entity as the national banking association, although as to rights, powers, and duties the resulting bank is a State bank. Any reference to such national banking association in any contract, will, or document shall be considered a reference to the State bank if not inconsistent with the provisions of the contract, will, or document or applicable law.

(Aug. 17, 1950, ch. 729, § 3, 64 Stat. 456.)