U.S. Code » Title 12 » Chapter CHAPTER 2— NATIONAL BANKS › Subchapter SUBCHAPTER XV— CONVERSION OF NATIONAL BANKS INTO STATE BANKS

12 U.S.C. § 214

Definitions

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(a) As used in this subchapter and section 321 of this title the term “State bank” means any bank, banking association, trust company, savings bank (other than a mutual savings bank), or other banking institution which is engaged in the business of receiving deposits and which is incorporated under the laws of any State, any Territory of the United States, Puerto Rico, or the Virgin Islands, or which is operating under the Code of Law for the District of Columbia.(b) For purposes of merger or consolidation under this subchapter and section 321 of this title the term “national banking association” means one or more national banking associations, and the term “State bank” means one or more State banks.(Aug. 17, 1950, ch. 729, § 1, 64 Stat. 455; Sept. 3, 1954, ch. 1263, § 24, 68 Stat. 1234; Pub. L. 109–351, title VII, § 725(f), Oct. 13, 2006, 120 Stat. 2002; Pub. L. 109–356, title I, § 123(f), Oct. 16, 2006, 120 Stat. 2029.)Editorial NotesAmendments

2006—Subsec. (a). Pub. L. 109–351 and 109–356 amended subsec. (a) identically, striking out “(except a national banking association)” before period at end.

1954—Act Sept. 3, 1954, substituted “this subchapter and section 321 of this title” for “sections 214 to 214c, 264(e)(2), (i)(2), (v)(4), and 321 of this title” wherever appearing.

Statutory Notes and Related SubsidiariesSeparability

Act Aug. 17, 1950, ch. 729, § 9, 64 Stat. 458, provided that: “If any provision of this Act [enacting this subchapter and amending of sections 264 and 321 of this title], or the application thereof to any person or circumstance, is held invalid, the remainder of the Act and the application of such provision to other persons or circumstances shall not be affected thereby.”

Notes of Decisions
Cited in 3 cases, 1962–2009 · leading case: Brookshire v. Adcock, 307 S.W.3d 22 (Ark. 2009).
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Brookshire v. Adcock, 307 S.W.3d 22 (Ark. 2009). “See 12 U.S.C. § 214 (a). Act 349 was later amended by Act 869 of 1983, which was entitled: "An Act Authorizing a State Bank to Reorganize Through a Plan of Exchange with a Bank Holding Company after Stockholder and Regulatory Approval, and Prescribing Procedures with Respect…”
First Fed. Sav. & Loan Ass'n of Puerto Rico v. Hector L. Ruiz De Jesus, 644 F.2d 910 (1st Cir. 1981). “, 12 U.S.C. § 214 (a) (for purposes of conversion of a national bank into a state bank a bank organized in Puerto Rico is a “State bank”; 12 U.”
Commonwealth v. First Pennsylvania Banking & Trust Co., 29 Pa. D. & C.2d 203 (1962). “Moreover, defendant’s contention is negatived by 12 U.S.C.A. §214 (b), which provides in part: “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…”
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