US Code

Public Law 119-73 (01/23/2026)

12 U.S.C. § 215c

Mergers, consolidations, and other acquisitions authorized

(a)

In general

1

1 See References in Text note below.
Subject to sections 1815(d)(3)  and 1828(c) of this title and all other applicable laws, any national bank may acquire or be acquired by any insured depository institution.

(b)

Expedited approval of acquisitions

(1)

In general

Any application by a national bank to acquire or be acquired by another insured depository institution which is required to be filed with the Comptroller of the Currency under any applicable law or regulation shall be approved or disapproved in writing by the agency before the end of the 60-day period beginning on the date such application is filed with the agency.

(2)

Extensions of period

The period for approval or disapproval referred to in paragraph (1) may be extended for an additional 30-day period if the Comptroller of the Currency determines that—
(A)
an applicant has not furnished all of the information required to be submitted; or
(B)
in the Comptroller’s judgment, any material information submitted is substantially inaccurate or incomplete.
(c)

Rule of construction

1No provision of this section shall be construed as authorizing a national bank or a subsidiary of a national bank to engage in any activity not otherwise authorized under this Act  or any other law governing the powers of national banks.

(d)

“Acquire” defined

For purposes of this section, the term “acquire” means to acquire, directly or indirectly, ownership or control through a merger or consolidation or an acquisition of assets or assumption of liabilities, provided that following such merger, consolidation, or acquisition, an acquiring insured depository institution may not own the shares of the acquired insured depository institution.

Pub. L. 102–242, title V, § 502(b)105 Stat. 2393Pub. L. 104–208, div. A, title II, § 2201(b)(1)110 Stat. 3009–403(R.S. § 5156A, as added , , ; amended , , .)

Editorial Notes

References in Text

Section 1815(d)(3) of this titlePub. L. 109–173, § 8(a)(4)119 Stat. 3610, referred to in subsec. (a), which related to optional conversions by insured depository institutions subject to special rules on deposit insurance payments, was struck out and former section 1815(d)(1)(C) redesignated section 1815(d)(3) by , (5)(D), , , 3611.

act June 3, 1864, ch. 10613 Stat. 99section 38 of this titleThis Act, referred to in subsec. (c), probably means the National Bank Act, , , which is classified principally to chapter 2 (§ 21 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under .

Codification

act Nov. 7, 1918, ch. 209Pub. L. 86–230, § 2073 Stat. 460Section was not enacted as part of , as added , , , which comprises this subchapter.

Amendments

Pub. L. 104–208section 1815(d)(3) of this title1996—Subsec. (b)(1). substituted “under any applicable law” for “by or any other applicable law”.