Section 601-A. Purchase of assets

1. The following acquisitions are hereby
  authorized whether by purchase or otherwise, other than  by  merger,  of
  all or a substantial part of the assets of:
    (a)  One  or  more corporations organized under the laws of this state
  and subject to the provisions of article three, article eight or article
  twelve of this chapter by another corporation subject to the  provisions
  of the same article.
    (b) One or more safe deposit companies by a bank or trust company.
    (c) One or more mutual savings banks by another mutual savings bank.
    (d) One or more mutual savings and loan associations by another mutual
  savings and loan association.
    (e) One or more stock-form savings banks by another stock-form savings
  bank.
    (f)  One  or  more stock-form savings and loan associations by another
  stock-form savings and loan association.
    (g) One or more banking institutions by another banking institution to
  the extent permitted under regulations of the banking board.
    2. A written plan providing for the acquisition by one corporation  of
  the  assets  of  another  shall  be  submitted,  in  duplicate,  to  the
  superintendent  by  both  corporations.  Such  plan  shall  be  in  form
  satisfactory  to  the  superintendent, shall specify the selling and the
  acquiring corporation, and shall prescribe the terms and  conditions  of
  the acquisition and the mode of carrying it into effect.
    At  the  time  of  submission  for action by the superintendent of the
  written  plan  of  acquisition  of  assets,  an  investigation  fee   as
  prescribed  pursuant to section eighteen-a of this chapter shall be paid
  to the superintendent; provided,  however,  that  no  investigation  fee
  shall  be  payable under this subdivision with respect to an acquisition
  to which subdivision two of section six hundred one-b of this article is
  applicable.
    3. There shall also be submitted, in duplicate, to the  superintendent
  with  the plan of acquisition of assets, a certificate of the president,
  secretary or cashier of the selling corporation and, in  the  event  the
  assets  of  the  selling  corporation shall exceed ten per centum of the
  assets of the  acquiring  corporation,  of  the  acquiring  corporation,
  certifying that such plan has been approved by the board of directors of
  his  corporation by a majority vote of all the members thereof, and that
  such  plan  was  thereafter  submitted  to  the  stockholders  of   such
  corporation  at  a  meeting thereof held upon notice of at least fifteen
  days, specifying the  time,  place,  and  object  of  such  meeting  and
  addressed to each stockholder at the address appearing upon the books of
  the  corporation  and  published at least once a week for two successive
  weeks in one newspaper in each county in which the  selling  corporation
  and, if applicable, the acquiring corporation has its principal place of
  business  and  that  such  plan has been approved at such meeting by the
  vote of the stockholders owning at least two-thirds  in  amount  of  the
  stock of such corporation.
    5.  Nothing  contained  in this section six hundred and one-a shall be
  construed to prohibit any other purchase of assets  which  is  otherwise
  permitted by applicable law.