Exhibit 5(a)
October 28, 2008
Bank of America Corporation
Bank of America Corporate Center
100 North Tryon Street
Charlotte, North Carolina 28255
Re: Registration Statement on Form S-4
Ladies and Gentlemen:
I and other members of my staff have acted as counsel to Bank of America Corporation, a
Delaware corporation (the Company), in connection with the registration statement on Form
S-4, as amended (the Registration Statement), filed with the Securities and Exchange Commission
(the Commission) pursuant to the Securities Act of 1933, as amended (the Act), for the
registration of shares of the Companys common stock, par value $0.01 per share, Floating Rate
Non-Cumulative Preferred Stock, Series 1, par value $0.01 per share, Floating Rate Non-Cumulative
Preferred Stock, Series 2, par value $0.01 per share, 6.375% Non-Cumulative Preferred Stock, Series
3, par value $0.01 per share, Floating Rate Non-Cumulative Preferred Stock, Series 4, par value
$0.01 per share, Floating Rate Non-Cumulative Preferred Stock, Series 5, par value $0.01 per share,
6.70% Noncumulative Perpetual Preferred Stock, Series 6, par value $0.01 per share, 6.25%
Noncumulative Perpetual Preferred Stock, Series 7, par value $0.01 per share, and 8.625%
Non-Cumulative Preferred Stock, Series 8, par value $0.01 per share (collectively, the
Securities), that may be issued in connection with the merger (the Merger) of Merrill Lynch &
Co., Inc., a Delaware corporation (Merrill Lynch), with MER Merger Corporation, a Delaware
corporation and a wholly owned subsidiary of the Company, as described in the Registration
Statement.
In rendering this opinion, I have examined such corporate records and other documents, and I
have reviewed such matters of law, as I have deemed necessary or appropriate. Based on the
foregoing, I am of the opinion that all necessary corporate action on the part of the Company has
been taken to authorize the issuance of the Securities in connection with the Merger, and when the
Registration Statement has been declared effective by order of the Commission and the Securities
have been issued in accordance with the terms and conditions set forth in the Agreement and Plan of
Merger, dated as of September 15, 2008, by and between Merrill Lynch and the Company, the
Securities will be validly issued, fully paid and nonassessable.
The foregoing opinion is limited to the federal law of the United States of America and the
General Corporation Law of the State of Delaware.
I
hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and
to the reference to myself and this opinion under the heading Legal Matters in the Registration
Statement and the related prospectus included in the Registration Statement. In giving such
consent, I do not thereby admit that I am an expert within the meaning of the Act or the rules
and regulations of the Commission issued thereunder with respect to
any part of the Registration Statement, including this exhibit. I assume no obligation to advise you or any other person, or to
make any investigations, as to any legal developments or factual matters arising subsequent to the
date of effectiveness of the Registration Statement that might affect the opinions expressed herein.
|
|
|
|
|
|
Very truly yours,
|
|
|
/s/ Timothy J. Mayopoulos
|
|
|
|
Name: |
Timothy J. Mayopoulos |
|
|
Title: |
Executive Vice President and General
Counsel
Bank of America Corporation |
|
|