Amends TCA Title 45.

ON MARCH 4, 2024, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 1293, AS AMENDED. AMENDMENT #1 rewrites the bill to make the following additions to the present law relevant to acquisition, formation, or control of banks and savings institutions: (1) Authorizes a bank chartered by the state to, with the approval of the commissioner of financial institutions ("commissioner"), sell or transfer all, or substantially all, of its assets and liabilities to another bank, banking institution, or entity, in a transaction approved by the shareholders; so long as the buyer or transferee is a financial institution insured by the federal deposit insurance corporation. However, this does not apply to a transaction arising out of an agreement that was originally executed prior to January 1, 2024, or to any subsequent amendment or modification to such agreement; and (2) Authorizes a savings institution chartered by the state to, with the approval of the commissioner, sell or transfer all or substantially all, of its assets and liabilities to another savings institution or other entity, in a transaction approved by the shareholders or members; so long as the buyer or transferee is a financial institution insured by the federal deposit insurance corporation. However, this does not apply to a transaction arising out of an agreement that was originally executed prior to January 1, 2024, or to any subsequent amendment or modification to such agreement.