{"data":{"id":"us-ky/krs-286.3-173","jurisdiction":"us-ky","citation":"KRS 286.3-173","heading":"Conversion of state bank to or merger with national banking association.","body":"(1) A state bank may convert into, or merge or consolidate with, a national banking\nassociation under the charter of a national banking association in the manner\nprovided by federal law and without approval of any state authority.\n(2) The franchise of a st ate bank as a state bank shall automatically terminate when its\nconversion into or its merger or consolidation with a national banking association\nunder a federal charter is consummated and the resulting national banking\nassociation shall be considered the  same business and corporate entity as the state\nbank, although as to rights, powers and duties the resulting bank is a national\nbanking association.\n(3) At the time when such conversion, merger or consolidation becomes effective:\n(a) All of the property, rights, powers and franchises of the state bank shall vest in\nthe national banking association and the national banking association shall be\nsubject to and be deemed to have assumed all of the debts, liabilities,\nobligations and duties of the state bank an d to have succeeded to all of its\nrelationships, fiduciary or otherwise, as fully and to the same extent as if such\nproperty, rights, powers, franchises, debts, liabilities, obligations, duties and\nrelationships had been originally acquired, incurred or en tered into by the\nnational banking association;\n(b) Any reference to the state bank in any contract, will or document, whether\nexecuted or taking effect before or after the conversion, merger or\nconsolidation, shall be considered a reference to the nationa l banking\nassociation if not inconsistent with the other provisions of the contract, will or\ndocument;\n(c) A pending action or other judicial proceeding to which the state bank is a\nparty, shall not be deemed to have abated or to have discontinued by reason of\nthe conversion, merger or consolidation, but may be prosecuted to final\njudgment, order or decree in the same manner as if the conversion, merger or\nconsolidation had not been made; or the national banking association may be\nsubstituted as a party to such action or proceeding, and any judgment, order or\ndecree may be rendered for or against it that might have been rendered for or\nagainst the state bank if the conversion, merger or consolidation had not\noccurred.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14545","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:10Z","sha256":"5b88d9205950abf35c8adc0c2a33fc408c79da90cb9c1fa6d2248274c8d9a625","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-172","next":"us-ky/krs-286.3-174"},"notice":"GroundRules: Original legal text. Not legal advice."}