Subsidiary Organization. (a) FNB is a national banking association duly organized, validly existing and in good standing under the laws of the United States. FNB has full power and authority, corporate and otherwise, to own, operate and lease its properties as presently owned, operated and leased, and to carry on its business as it is now being conducted. FNB owns no voting stock or equity securities of any corporation, association, partnership or other entity, other than as shown on Schedule 5.3 of the FDB Book of Schedules.
Appears in 2 contracts
Sources: Merger Agreement (First Decatur Bancshares Inc), Merger Agreement (Bankillinois Financial Corp)