ARTICLE 4. Certain Sales of Partial Business Units [4877.01. - 4877.07.]

Article 4 added by Stats. 1995, Ch. 480, Sec. 154.

§§ 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…