Page:United States Statutes at Large Volume 108 Part 3.djvu/595

 PUBLIC LAW 103-328—SEPT. 29, 1994 108 STAT. 2347 adequately managed upon the consummation of the transaction. "(5) SURRENDER OF CHARTER AFTER MERGER TRANS- ACTION. — The charters of all banks involved in an interstate merger transaction, other than the charter of the resulting bank, shall be surrendered, upon request, to the Federal banking agency or State bank supervisor which issued the charter. "(c) APPLICABILITY OF CERTAIN LAWS TO INTERSTATE BANKING OPERATIONS.— " (1) STATE TAXATION AUTHORITY NOT AFFECTED. — "(A) IN GENERAL,—No provision of this section shall be construed as affecting the authority of any State or political subdivision of any State to adopt, apply, or administer any tax or method of taxation to any bank, bank holding company, or foreign bank, or any affiliate of any bank, bank holding company, or foreign bank, to the extent such tax or tax method is otherwise permissible by or under the Constitution of the United States or other Federal law. "(B) IMPOSITION OF SHARES TAX BY HOST STATES.— In the case of a branch of an out-of-State bank which results from an interstate merger transaction, a proportionate amount of the value of the shares of the out-of- State bank may be subject to any bank shares tax levied or imposed by the host State, or any political subdivision of such host State that imposes such tax based upon a method adopted by the host State, which may include allocation and apportionment. " (2) APPLICABILITY OF ANTITRUST LAWS. —No provision of this section shall be construed as affecting— "(A) the applicability of the antitrust laws; or "(B) the applicability, if any, of any State law which is similar to the antitrust laws. "(3) RESERVATION OF CERTAIN RIGHTS TO STATES. —No provision of this section shall be construed as limiting in any way the right of a State to— "(A) determine the authority of State banks chartered by that State to establish and maintain branches; or "(B) supervise, regulate, and examine State banks chartered by that State. "(4) STATE-IMPOSED NOTICE REQUIREMENTS. — A host State may impose any notification or reporting requirement on a branch of an out-of-State bank if the requirement— "(A) does not discriminate against out-of-State banks or bank holding companies; and "(B) is not preempted by any Federal law regarding the same subject. " (d) OPERATIONS OF THE RESULTING BANK. — "(1) CONTINUED OPERATIONS. — A resulting bank may, subject to the approval of the appropriate Federal banking agency, retain and operate, as a main office or a branch, any office that any bank involved in an interstate merger transaction was operating as a main office or a branch immediately before the merger transaction. " (2) ADDITIONAL BRANCHES.— Following the consummation of any interstate merger transaction, the resulting bank may establish, acquire, or operate additional branches at any loca-

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