CHAPTER 9. Merger and Purchase or Sale of Business [31600. - 31605.]

Chapter 9 added by Stats. 1977, Ch. 1164.

§§ 31600–31605 · 6 sections

• § 31600 In this chapter: (a) “Acquiring licensee” means: (1) In the case of a merger, the licensee which is the surviving corporation; (2) In the case of a purchase or…
• § 31601 No licensee shall merge with any other corporation unless: (a) In case such licensee is the surviving corporation, such merger shall have first been approved…
• § 31602 No licensee shall purchase all or substantially all of the business of any other person unless such purchase shall have first been approved by the commissioner.
• § 31603 No licensee shall sell all or substantially all of its business to any other person unless such other person is a licensee and such sale shall have first been…
• § 31604 If the commissioner finds, with respect to an application for approval of a merger, purchase, or sale: (a) That the merger, purchase, or sale will be safe and…
• § 31605 The commissioner may, by such regulations or orders as he or she deems necessary and appropriate, either unconditionally or upon specified terms and conditions…