ARTICLE 10. Mutual Holding Companies [5860. - 5868.]

Article 10 added by Stats. 1988, Ch. 718, Sec. 10.

§§ 5860–5868 · 9 sections

• § 5860 Notwithstanding any other provision of law, but subject to prior approval of the commissioner, any mutual association may reorganize so as to become a mutual…
• § 5861 Upon transfer of assets and assumption of liabilities pursuant to Section 5860, persons who prior thereto held savings accounts with, or other rights as…
• § 5862 A reorganization of a mutual association pursuant to this article shall be approved by the board of directors and by the members of the mutual association.
• § 5863 An application to the commissioner for approval of a reorganization under this article shall contain such relevant information as the commissioner may require.…
• § 5864 In connection with reorganization pursuant to the provisions of this article, a mutual association may, subject to the approval of the commissioner, retain…
• § 5865 A mutual holding company shall be deemed to be a savings association continuing its organization under this division and may engage only in activities…
• § 5866 Sections 5801, 5802, and 5803 shall not apply to a reorganization pursuant to this article.
• § 5867 Notwithstanding any other provision of law, a reorganized stock association may exercise any and all powers, rights, and privileges of and be subject to all…
• § 5868 A reorganized stock association shall have the power to issue additional amounts of capital stock to the mutual holding company of which it is a subsidiary…