Corporation Commission v. Stockholders of the Bank of Beulaville

The statute applicable to tbe Bank of Beulaville on 21 December, 1921, and to other banks doing business in this State at said date, with respect to a transfer of its assets and liabilities by one bank to another bank, is section 12 of chapter 4, Public Laws of North Carolina, 1921, now C. S., 217 (k). It is provided therein tbat “a bank may consolidate with or transfer its assets and liabilities to another bank.” It is further provided therein tbat “no such consolidation or transfer shall be made without tbe consent of tbe Corporation Commission.” There is no finding of fact in tbe instant…