{"code":"FIN","codeName":"Financial Code","section":"4860","citation":"Fin. Code, § 4860","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION [4800. - 4966.]","url":"https://blackletter.si/financial-code/division-1.6"},{"name":"CHAPTER 3. Sale [4840. - 4879.17.]","url":"https://blackletter.si/financial-code/division-1.6/chapter-3"},{"name":"ARTICLE 2. Sale of Whole Business Unit to California State Depository Corporation or California State-Licensed Foreign (Other Nation) Bank [4845. - 4862.]","url":"https://blackletter.si/financial-code/division-1.6/chapter-3/article-2"}],"history":"Added by Stats. 1982, Ch. 1411, Sec. 3.","effective":null,"html":"<p>No action on account of any debt or liability assumed by a purchaser in a sale may be commenced against the seller more than one year after the time when the sale becomes effective.</p>","text":"No action on account of any debt or liability assumed by a purchaser in a sale may be commenced against the seller more than one year after the time when the sale becomes effective.","otherVersions":[],"url":"https://blackletter.si/financial-code/sale-of-whole-business-unit-to-california-state-depository-4860","source":"California Legislative Information bulk export (pubinfo)"}