§ 36.
The conditions upon which a national banking association may retain or establish and operate a branch or branches are the following:
(b)
Converted State banks
(1)
A national bank resulting from the conversion of a State bank may retain and operate as a branch any office which was a branch of the State bank immediately prior to conversion if such office—
(A)
might be established under subsection (c) of this section as a new branch of the resulting national bank, and is approved by the Comptroller of the Currency for continued operation as a branch of the resulting national bank;
(B)
was a branch of any bank on February 25, 1927; or
(C)
is approved by the Comptroller of the Currency for continued operation as a branch of the resulting national bank.
The Comptroller of the Currency may not grant approval under clause (C) of this paragraph if a State bank (in a situation identical to that of the national bank) resulting from the conversion of a national bank would be prohibited by the law of such State from retaining and operating as a branch an identically situated office which was a branch of the national bank immediately prior to conversion.
(2)
A national bank (referred to in this paragraph as the “resulting bank”), resulting from the consolidation of a national bank (referred to in this paragraph as the “national bank”) under whose charter the consolidation is effected with another bank or banks, may retain and operate as a branch any office which, immediately prior to such consolidation, was in operation as—
(A)
a main office or branch office of any bank (other than the national bank) participating in the consolidation if, under subsection (c) of this section, it might be established as a new branch of the resulting bank, and if the Comptroller of the Currency approves of its continued operation after the consolidation;
(B)
a branch of any bank participating in the consolidation, and which, on February 25, 1927, was in operation as a branch of any bank; or
(C)
a branch of the national bank and which, on February 25, 1927, was not in operation as a branch of any bank, if the Comptroller of the Currency approves of its continued operation after the consolidation.
The Comptroller of the Currency may not grant approval under clause (C) of this paragraph if a State bank (in a situation identical to that of the resulting national bank) resulting from the consolidation into a State bank of another bank or banks would be prohibited by the law of such State from retaining and operating as a branch an identically situated office which was a branch of the State bank immediately prior to consolidation.
(3)
As used in this subsection, the term “consolidation” includes a merger.
(e)
Exclusive authority for additional branches
(2)
Retention of branches
In the case of a national bank which relocates the main office of such bank from 1 State to another State after May 31, 1997, the bank may retain and operate branches within the State which was the bank’s home State (as defined in subsection (g)(3)(B)) before the relocation of such office only to the extent the bank would be authorized, under this section or any other provision of law referred to in paragraph (1), to acquire, establish, or commence to operate a branch in such State if—
(A)
the bank had no branches in such State; or
(B)
the branch resulted from—
(ii)
a transaction after
May 31, 1997, pursuant to which the bank received assistance from the Federal Deposit Insurance Corporation under
section 1823(c) of this title.
(g)
State “opt-in” election to permit interstate branching through de novo branches
(1)
In general
Subject to paragraph (2), the Comptroller of the Currency may approve an application by a national bank to establish and operate a de novo branch in a State (other than the bank’s home State) in which the bank does not maintain a branch if—
(A)
the law of the State in which the branch is located, or is to be located, would permit establishment of the branch, if the national bank were a State bank chartered by such State; and
(B)
the conditions established in, or made applicable to this paragraph by, paragraph (2) are met.
(2)
Conditions on establishment and operation of interstate branch
(3)
Definitions
The following definitions shall apply for purposes of this section:
(A)
De novo branch
The term “de novo branch” means a branch of a national bank which—
(i)
is originally established by the national bank as a branch; and
(ii)
does not become a branch of such bank as a result of—
(I)
the acquisition by the bank of an insured depository institution or a branch of an insured depository institution; or
(II)
the conversion, merger, or consolidation of any such institution or branch.
(h)
Repealed. [Pub. L. 104–208, div. A, title II, § 2204], Sept. 30, 1996, [110 Stat. 3009–405]
(R.S. § 5155; [Feb. 25, 1927, ch. 191, § 7], [44 Stat. 1228]; [June 16, 1933, ch. 89, § 23], [48 Stat. 189]; [Aug. 23, 1935, ch. 614], title III, § 305, [49 Stat. 708]; [July 15, 1952, ch. 753, § 2(b)], [66 Stat. 633]; [Pub. L. 87–721], Sept. 28, 1962, [76 Stat. 667]; [Pub. L. 103–328, title I], §§ 102(b)(1), 103(a), Sept. 29, 1994, [108 Stat. 2349], 2352; [Pub. L. 104–208, div. A, title II], §§ 2204, 2205(a), Sept. 30, 1996, [110 Stat. 3009–405]; [Pub. L. 105–24, § 2(b)], July 3, 1997, [111 Stat. 239]; [Pub. L. 111–203, title VI, § 613(a)], July 21, 2010, [124 Stat. 1614].)