Organization of Subsidiaries. First National is duly organized and validly existing under the laws of the United States. Each of Dover and FNIS is duly organized and validly existing under the laws of the State of North Carolina. Except as Previously Disclosed, all of the outstanding capital stock of each such subsidiary is owned of record and beneficially, free and clear of all security interests and claims, by FNB or First National. All of the outstanding shares of capital stock of each of FNB’s subsidiaries are duly authorized, validly issued, fully paid and nonassessable.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (FNB Corp/Nc), Agreement and Plan of Merger (United Financial Inc), Agreement and Plan of Merger (FNB Corp/Nc)
