CHAPTER 9. Merger and Purchase or Sale of Business [28600. - 28604.]

Chapter 9 added by Stats. 1998, Ch. 668, Sec. 3.

§§ 28600–28604 · 5 sections

• § 28600 For purposes of this chapter: (a) “Acquiring licensee” means either of the following: (1) In the case of a merger, the licensee that is the surviving company.…
• § 28601 No licensee shall merge with any other company unless either of the following apply: (a) If the licensee is to be the surviving company, the merger is first…
• § 28602 No licensee shall purchase all or substantially all of the business of any other person unless the purchase is first approved by the commissioner.
• § 28603 No licensee shall sell all or substantially all of its business to any other person unless the other person is a licensee and the sale is first approved by the…
• § 28604 The commissioner shall approve an application for approval of a merger, purchase, or sale, only if, after notice and a hearing, the commissioner finds all of…