Federal Act Governs Appraisal Rights in Bank Mergers

Business Valuation UpdateVol. 10 No. 8
Legal and Court Case Update
August 2004
6022 State Commercial Banks
522110 Commercial Banking
dissenting shareholder
dissenting shareholder

Community Bank of Arizona v. G.V.M. Trust
2004 U.S. App. LEXIS 8974
May 7, 2004
US
Federal Court
9th Circuit
United States Court of Appeals
Richard A. Segal
Graber

Summary

The issue in this case was whether the National Bank Consolidation and Merger Act (or the state’s general corporate appraisal rights statutes) governs the appraisal rights of dissenting shareholders in a bank merger.

See Also

Community Bank of Arizona v. G.V.M. Trust

Lack of Arizona statute regarding appraisal of dissenter's shares in cases of bank mergers requires the interpretation of the case under federal code.