CHAPTER 3. Sale [4840. - 4879.17.]
Chapter 3 added by Stats. 1982, Ch. 1411, Sec. 3.
§§ 4840–4879.17 · 69 sections
ARTICLE 1. General Provisions §§ 4840–4843 · 4 sections
- § 4840 In this chapter, unless the context otherwise requires: (a) “Branch business unit” means all or substantially all of the business of a branch office of a…
- § 4841 The provisions of Section 1001 of the Corporations Code shall not apply to any transaction which is subject to this chapter.
- § 4842 If a trust is transferred under this chapter, the transfer shall be good cause for removal of the trustee under the Trust Law (Division 9 (commencing with…
- § 4843 In case a national banking association or federal savings association that is authorized to transact trust business in this state sells a partial business unit…
ARTICLE 2. Sale of Whole Business Unit to California State Depository Corporation or California State-Licensed Foreign (Other Nation) Bank §§ 4845–4862 · 17 sections
- § 4845 In this article, unless the context otherwise requires, “sale” means any of the sales described in Section 4846.
- § 4846 With the approval of the commissioner: (a) A bank may sell its whole business unit to a California state bank or a California state-licensed foreign (other…
- § 4847 A seller and purchaser shall make an agreement of sale, providing: (a) That the seller shall sell to the purchaser, and the purchaser shall purchase from the…
- § 4848 The agreement of sale shall be approved by the seller and purchaser, as follows: (a) In the case of a California state depository corporation: (1) If the sale…
- § 4849 (a) Any amendment to an agreement of sale shall be approved by the seller and purchaser, as follows: (1) In the case of a California state depository…
- § 4850 In the case of a seller or purchaser which is a California state depository corporation, any approval of the outstanding shares of the corporation required by…
- § 4851 In obtaining any approval of outstanding shares required for an agreement of sale, in case the purchaser is a California state depository corporation, the…
- § 4852 A purchaser or seller that is a California state depository corporation, with the approval of its board and without further approval of the outstanding shares,…
- § 4853 In case a purchaser is a California state depository corporation, the provisions of Chapter 13 (commencing with Section 1300) of Division 1 of Title 1 of the…
- § 4854 A purchaser shall file the following with the commissioner: (a) A copy of the agreement of sale. (b) An officers’ certificate of the purchaser, certifying that…
- § 4855 If the commissioner finds all of the following with respect to an application for approval of a sale, the commissioner shall approve the application: (a) That…
- § 4857 After an application for approval of a sale has been approved and all conditions precedent to the sale have been fulfilled, the commissioner shall approve the…
- § 4858 When a sale becomes effective: (a) Unless the purchaser provided otherwise in the application for approval of the sale or unless the commissioner provided…
- § 4859 When a sale becomes effective: (a) The purchaser shall succeed, without other transfer, to all the rights and property of the seller except any rights and…
- § 4860 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…
- § 4861 Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses…
- § 4862 (a) After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold…
ARTICLE 3. Sale of Whole Business Unit to Federal Depository Corporation, California Federally Licensed Foreign (Other Nation) Bank, or Insured Foreign (Other State) State Depository Corporation §§ 4870–4875 · 7 sections
- § 4870 In this article, unless the context otherwise requires, “sale” means any of the sales described in Section 4871.
- § 4871 (a) A California state bank may sell its whole business unit to a national banking association, a California federally licensed foreign (other nation) bank, or…
- § 4871.5 (a) No provision of Division 1.1 (commencing with Section 1000), except the provisions of Chapter 19 (commencing with Section 1670) of Division 1.1, prohibits…
- § 4872 A sale is subject to the provisions of Sections 4847 to 4850, inclusive, and 4852 as if the sale were a sale of the type defined in Section 4845.
- § 4873 A sale shall have the same effect as provided in Sections 4859 and 4860 in the case of a sale of the type defined in Section 4845.
- § 4874 Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses…
- § 4875 (a) After a sale becomes effective, the seller or purchaser may issue an officer’s certificate stating that the seller sold its whole business unit to the…
ARTICLE 3.5. Sale of Whole Business Unit of California State Independent Trust Company to Uninsured Foreign (Other State) State Depository Corporation §§ 4876.01–4876.09 · 9 sections
- § 4876.01 In this article, unless the context otherwise requires, “sale” means any sale described in Section 4876.02.
- § 4876.02 With the approval of the commissioner, a California state independent trust company may sell its whole business unit to an uninsured foreign (other state)…
- § 4876.03 A sale is subject to the provisions of Sections 4847 to 4852 as if the sale were a sale of the type defined in Section 4845.
- § 4876.04 A seller shall file the following with the commissioner: (a) A copy of the agreement of sale. (b) An officers’ certificate of the purchaser, certifying that…
- § 4876.05 If the commissioner finds all of the following with respect to an application for approval of a sale, the commissioner shall approve the application: (a) That…
- § 4876.06 After an application for approval of a sale has been approved and all conditions precedent to the sale have been fulfilled, the commissioner shall approve the…
- § 4876.07 A sale shall have the same effect as provided in Sections 4859 and 4860 in the case of a sale of the type defined in Section 4845.
- § 4876.08 Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority issued to it by…
- § 4876.09 (a) After a sale becomes effective, the seller or purchaser may issue an officers’ certificate stating that the seller sold its whole business unit to the…
ARTICLE 4. Certain Sales of Partial Business Units §§ 4877.01–4877.07 · 7 sections
- § 4877.01 In this article, unless the context otherwise requires, “sale” means any of the sales described in Section 4877.02.
- § 4877.02 A California state bank or a California industrial loan company may sell a California branch business unit to an insured foreign (other state) bank or an…
- § 4877.03 No provision of Division 1.1 (commencing with Section 1000), except the provisions of Chapter 19 (commencing with Section 1670) of Division 1.1, prohibits or…
- § 4877.04 A sale is subject to the provisions of Sections 4879.03 to 4879.06, inclusive, and Section 4879.08 as if the sale were a sale of the type defined in Section…
- § 4877.05 A sale shall have the same effect as provided in Sections 4879.14 and 4879.15 in the case of a sale of the type defined in Section 4879.01.
- § 4877.06 Promptly after a sale becomes effective, the seller shall: (a) Surrender to the commissioner for cancellation the certificate of authority or license issued to…
- § 4877.07 (a) After a sale becomes effective, the seller or purchaser may issue an officer’s certificate stating that the seller sold a California branch business unit…
ARTICLE 4.5. Sale of Partial Trust Business Unit by California State Bank or Savings Association to Uninsured Foreign (Other State) State Depository Corporation §§ 4878.01–4878.08 · 8 sections
- § 4878.01 In this article, unless the context otherwise requires, “sale” means any sale described in Section 4878.02.
- § 4878.02 With the approval of the commissioner, a California state bank or savings association may sell a partial trust business unit to an uninsured foreign (other…
- § 4878.03 A sale is subject to the provisions of Sections 4879.03 to 4879.09, inclusive, as if the sale were a sale of the type defined in Section 4879.01.
- § 4878.04 If the commissioner finds all of the following with respect to an application for approval of a sale, the commissioner shall approve the application: (a) That…
- § 4878.05 After an application for approval of a sale has been approved by the commissioner and all conditions precedent to the sale have been fulfilled, the…
- § 4878.06 A sale shall have the same effect as provided in Sections 4879.14 and 4879.15 in the case of a sale of the type defined in Section 4879.01.
- § 4878.07 (a) In case a seller is a California state commercial bank and sells all of its trust business in a sale: (1) As of the time when the sale becomes effective,…
- § 4878.08 (a) After a sale becomes effective, the seller or purchaser may issue an officers’ certificate stating that the seller sold a partial trust business unit to…
ARTICLE 5. Other Sales of Partial Business Units §§ 4879.01–4879.17 · 17 sections
- § 4879.01 In this article, unless the context otherwise requires, “sale” means any of the sales described in Section 4879.02.
- § 4879.02 With the approval of the commissioner: (a) A bank may sell a partial business unit to a California state bank pursuant to (1) this article, (2) in case the…
- § 4879.03 A seller and purchaser shall make an agreement of sale, providing: (a) That the seller shall sell to the purchaser, and the purchaser shall purchase from the…
- § 4879.04 The agreement of sale shall be approved by the seller and purchaser, as follows: (a) In the case of a California state depository corporation: (1) If, as of…
- § 4879.05 (a) Any amendment to an agreement of sale shall be approved by the seller and purchaser, as follows: (1) In the case of a California state depository…
- § 4879.06 In the case of a seller or purchaser that is a California state depository corporation, any approval of the outstanding shares of the corporation required by…
- § 4879.07 In obtaining any approval of outstanding shares required for an agreement of sale, a purchaser or seller that is a California state depository corporation and,…
- § 4879.08 A purchaser or seller that is a California state depository corporation, with the approval or its board and without further approval of the outstanding shares,…
- § 4879.09 A purchaser or seller that is a California state depository corporation or California state-licensed foreign (other nation) bank, shall file the following with…
- § 4879.10 (a) In case the purchaser is either, and the seller is not either, a California state depository corporation or California state-licensed foreign (other…
- § 4879.11 After an application for approval of a sale has been approved by the commissioner and all conditions precedent to the sale have been fulfilled, the…
- § 4879.12 When a sale becomes effective, in case the purchaser is a California state depository corporation or California state-licensed foreign (other nation) bank: (a)…
- § 4879.13 In case a seller is a California state commercial bank and sells all of its trust business in a sale: (a) As of the time when the sale becomes effective, the…
- § 4879.14 When a sale becomes effective: (a) The purchaser shall succeed, without other transfer, to all rights and property of the seller which are sold to the…
- § 4879.15 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…
- § 4879.16 Promptly after a sale becomes effective, the seller shall: (a) Surrender to its regulator for cancellation the certificates of authority or licenses issued to…
- § 4879.17 (a) After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold…