§ 3-701. Definitions

   (a) In general. -- In this subtitle the following words have the meanings indicated.

(b) Bank. -- "Bank" means a commercial bank, a national banking association, an other-state bank, or a federally chartered savings bank or savings and loan association.

(c) Constituent bank. -- "Constituent bank" means a party to a consolidation, merger, or transfer of assets.

(d) Successor. -- "Successor" means the bank that carries on the business of the constituent banks after a consolidation, merger, or transfer of assets.

(e) Transfer assets. -- "Transfer assets", "transfer its assets", or "transfer of assets" means to sell, lease, exchange, or otherwise transfer all or substantially all of the property and assets of a constituent bank.

HISTORY: An. Code 1957, art. 11, § 109; 1980, ch. 33, § 2; 1985, 2nd Sp. Sess., ch. 3; 1994, ch. 72; 1995, ch. 213, § 2; 1996, ch. 10, § 1.