Florida § 658.40 - Definitions for merger and consolidation.

§ 658.40. Definitions for merger and consolidation.

As used in the provisions of this code relating to the merger and consolidation of banks and trust companies, unless the context requires otherwise: (1) “Constituent bank or trust company” means a bank or a state trust company which is a party to a merger. (2) “Merger” includes consolidation. (3) “Resulting bank or trust company” means the consolidated bank or state trust company which is, or is to be, carrying on business upon completion of a consolidation; and, in the case of a merger, means the bank or state trust company into which the other constituent banks or trust companies are, or are to be, merged. (4) “Successor institution” means a banking corporation or a trust company organized under the laws of this state to which the office has not issued a certificate of authorization, as provided in s. 658.25, to conduct a banking business or trust business, the sole purpose of the organization of which is to facilitate a plan of merger, reorganization, or consolidation.