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BANK OF AURIGA NATIONAL TRUST & SAYINGS ASSOCIATION San Francisco Headquarters L . M. Qinimliil President San Francisco, California January 23, 1940 Federal Reserve Bank of San Francisco, San Francisco, California. Gentlemen: Bank of America National Trust and Savings Association proposes to proceed under the provisions of Section 56$ of the California Bank Act to convert into a State Member Bank, Before proceeding formally, as r e quired by Section 56b, to dissolve the Association as a National Bank, we would l i k e to have an indication frost you as to the formalities involved. We would propose to proceed under a plan similar to that followed by the F i r s t Commercial Bank of Pontiac, Michigan, which was converted f r o * a National Bank into a State Bank under substantially the same statute, the Supreme Court of Michigan decided that i n so converting, the bank did not lose i t s i d e n t i t y . ( F i r s t Commercial Bank of Pontiac, Michigan, v . Talbert. 61 H.W., 888) Accordingly, we are enclosing copy of Section 56b of the California Bank Act and a pro forma balance sheet indicating the condition of the Bank as of December 31, 1939, as i t would appear with assets and l i a b i l i t i e s segregated and c a p i t a l funds allocated to coBsaercial, savings, and trust departments, as required under State law. Inasmuch as the proposed procedure w i l l require a stockholders 1 meeting and due notice and publication of our intentions, we should appreciate having a response as early as possible. lours very t r u l y , (signed) L. 1 . Giasnini President
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