ARTICLE 2. Sale of Whole Business Unit to California State Depository Corporation or California State-Licensed Foreign (Other Nation) Bank [4845. - 4862.]
Heading of Article 2 amended by Stats. 1995, Ch. 480, Sec. 128.
§§ 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…