CHAPTER 1. General Provisions [4800. - 4828.7.]

Chapter 1 added by Stats. 1982, Ch. 1411, Sec. 3.

§§ 4800–4828.7 · 38 sections

1. ARTICLE 1. Short Title, Construction, and Severability §§ 4800–4803 · 4 sections

   • § 4800 This division shall be known and may be cited as the “Depository Corporation Sale, Merger, and Conversion Law.”
   • § 4801 In this division, unless otherwise expressly provided: (a) A reference to a statute or to a regulation includes the statute or regulation, as amended, whether…
   • § 4802 If any provision of this division or the application thereof to any person or circumstances is held invalid, illegal, or unenforceable, such invalidity,…
   • § 4803 If and to the extent that any provision of this division is preempted by federal law, the provision does not apply and shall not be enforced.
2. ARTICLE 2. Definitions §§ 4805.01–4805.18 · 18 sections

   • § 4805.01 Subject to additional definitions contained in this division that are applicable to specific provisions of this division and unless the context otherwise…
   • § 4805.02 (a) In this division, “bank” means a commercial bank or trust company (other than an industrial loan company authorized to engage in trust business). “Bank”…
   • § 4805.03 “California” means: (a) When used with respect to a savings association, in the case of a state savings association, a savings association that is organized…
   • § 4805.04 “California federally licensed foreign (other nation) bank,” when used with respect to a sale or merger, means a foreign (other nation) bank that is authorized…
   • § 4805.05 “California state-licensed foreign (other nation) bank,” when used with respect to a sale or merger, means a foreign (other nation) bank that is licensed under…
   • § 4805.055 “Commissioner” means the Commissioner of Financial Protection and Innovation.
   • § 4805.06 “Depository corporation” means a state or federal depository corporation.
   • § 4805.07 “Federal depository corporation” means a national banking association or a federal savings association.
   • § 4805.08 “Federal savings association” means a savings association or savings bank organized pursuant to Section 5 of the Home Owners’ Loan Act (12 U.S.C. Sec. 1464).
   • § 4805.09 “Foreign” or “foreign (other state)” means: (a) When used with respect to a savings association, in the case of a state savings association, a savings…
   • § 4805.10 In this division, “industrial loan company” means an industrial bank as defined in Section 111.
   • § 4805.11 “Insured,” when used with respect to a depository corporation, means a depository corporation the deposits of which are insured by the Federal Deposit…
   • § 4805.12 “Law of the domicile” means: (a) When used with respect to a federal depository corporation, the law of the United States. (b) When used with respect to a…
   • § 4805.13 “Merger,” when used with respect to a merger in a case where the surviving corporation is a federal depository corporation and federal law authorizes a…
   • § 4805.15 “Share” means: (a) When used with respect to a California state savings association that is authorized to issue guarantee stock, a share of guarantee stock.…
   • § 4805.16 “Shareholder” means: (a) When used with respect to a California state savings association that is authorized to issue guarantee stock, a holder of record of a…
   • § 4805.17 “State depository corporation” means a state bank, a state savings association, or an industrial loan company.
   • § 4805.18 “Uninsured,” when used with respect to a deposit, means a deposit or any part of a deposit that is not insured by the Federal Deposit Insurance Corporation…
3. ARTICLE 3. Other General Provisions §§ 4820–4828.7 · 16 sections

   • § 4820 For purposes of this division, a national banking association or federal savings association is deemed to be a corporation.
   • § 4820.5 For purposes of this division, depository corporations are divided into the following classes: (a) Banks. (b) Savings associations. (c) Industrial loan…
   • § 4821 The provisions of the General Corporation Law (Division 1 (commencing with Section 100) of Title 1 of the Corporations Code) shall apply to any transaction…
   • § 4821.5 Any certificate of authority, license, or other authorization issued under subdivision (b) of Section 4858, subdivision (b) of Section 4879.12, subdivision (b)…
   • § 4822 (a) References in this division to the voting of the shares of a California state depository corporation shall be construed in accordance with Section 111 of…
   • § 4823 References in this division to shareholders’ equity mean shareholders’ equity determined in accordance with generally accepted accounting principles, subject…
   • § 4824 In determining for purposes of this division whether the shareholders’ equity of a California state depository corporation will be adequate: (a) In case the…
   • § 4825 A California state depository corporation may merge with a corporation or other business entity that is not a depository corporation if the California state…
   • § 4826 Notwithstanding any other provision of law, no savings association or industrial loan company may convert into a bank if the ownership of the savings…
   • § 4826.5 Notwithstanding any other provision of this division: (a) The provisions of Chapter 19 (commencing with Section 1670) of Division 1.1 apply to any transaction…
   • § 4827 Except as expressly provided otherwise in this division: (a) (1) No sale of a whole business unit (as defined in Section 4840) or merger in which the selling…
   • § 4827.3 Except as otherwise provided in paragraph (2) of subdivision (a) of Section 4827.7 in the case of a California state-licensed foreign (other nation) bank or in…
   • § 4827.7 (a) (1) Except as otherwise provided in paragraph (2): (A) No California state depository corporation may, as the selling or disappearing depository…
   • § 4828 Subject to the provisions of Sections 4827.3 and 4827.7 but notwithstanding any other provision of law: (a) (1) If, as a result of any sale, merger, or…
   • § 4828.3 A California state bank or an industrial loan company may, with the approval of the commissioner and its board and, if the transaction constitutes a…
   • § 4828.7 (a) The definitions in Section 4840 apply to this section. (b) In case a California state-licensed foreign (other nation) bank sells all or substantially all…