CHAPTER 5. Conversion [4920. - 4966.]

Chapter 5 added by Stats. 1982, Ch. 1411, Sec. 3.

§§ 4920–4966 · 30 sections

1. ARTICLE 1. Conversion of California State Depository Corporation Into California State Depository Corporation §§ 4920–4930 · 10 sections

   • § 4920 In this article, unless the context otherwise requires, “conversion” means any of the conversions described in Section 4921.
   • § 4921 With the approval of the commissioner, a California state depository corporation of any class may convert into a California state depository corporation of…
   • § 4922 (a) A converting depository corporation shall adopt, and shall file with the commissioner an application for approval of, such amendments to its articles as…
   • § 4923 In obtaining the approval of outstanding shares or shareholders required for any amendment to articles or bylaws called for in Section 4922, a converting…
   • § 4924 A converting depository corporation shall file with the commissioner an application for approval of the conversion.
   • § 4925 If the commissioner finds all of the following with respect to an application for approval of a conversion, the commissioner shall approve the application: (a)…
   • § 4927 After an application for approval of a conversion has been approved and all conditions precedent to the conversion have been fulfilled, the commissioner shall…
   • § 4928 When a conversion becomes effective, the commissioner shall: (a) (1) In case the resulting depository corporation is a California state bank, issue to the…
   • § 4929 Promptly after a conversion becomes effective, the resulting depository corporation shall: (a) Surrender to the commissioner for cancellation the certificates…
   • § 4930 (a) After a conversion becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the…
2. ARTICLE 2. Conversion of Federal Depository Corporation Into California State Depository Corporation §§ 4940–4952 · 12 sections

   • § 4940 In this article, unless the context otherwise requires, “conversion” means any of the conversions described in Section 4941.
   • § 4941 With the approval of the commissioner: (a) A national banking association may convert into a California state bank pursuant to this article and federal law.…
   • § 4942 A converting depository corporation shall adopt a plan of conversion pursuant to the provisions of federal law.
   • § 4943 In obtaining any approval of outstanding shares required for a plan of conversion, a converting depository corporation shall provide to its shareholders…
   • § 4944 A converting depository corporation shall file the following with the commissioner: (a) The plan of conversion. (b) An officer’s certificate certifying that…
   • § 4945 If the commissioner finds all of the factors set forth in Section 4925 with respect to an application for approval of a conversion, the commissioner shall…
   • § 4946 After an application for approval of a conversion has been approved by the commissioner but before the conversion becomes effective, the converting depository…
   • § 4948 (a) After an application for approval of a conversion has been approved and all conditions precedent to the conversion have been fulfilled, the commissioner…
   • § 4949 When a conversion becomes effective, the commissioner shall issue to the resulting depository corporation certificates of authority, licenses, or other…
   • § 4950 When a conversion becomes effective: (a) The converting depository corporation shall cease to exist. (b) The resulting depository corporation shall succeed,…
   • § 4951 Promptly after a conversion becomes effective, the resulting depository corporation shall: (a) Surrender to the regulator of the converting depository…
   • § 4952 (a) After a conversion becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the…
3. ARTICLE 3. Conversion of California State Depository Corporation Into Federal Depository Corporation §§ 4960–4966 · 8 sections

   • § 4960 In this article, unless the context otherwise requires, “conversion” means any of the conversions described in Section 4961.
   • § 4961 (a) A California state bank may convert into a national banking association pursuant to this article and federal law. (b) A California state depository…
   • § 4961.5 (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…
   • § 4962 (a) A converting depository corporation shall make a plan of conversion, stating: (1) That the converting depository corporation shall be converted into the…
   • § 4963 A conversion shall have the same effect as provided in Section 4950 in the case of a conversion of the type defined in Section 4940.
   • § 4964 Promptly after a conversion becomes effective, the resulting depository corporation shall: (a) Surrender to the commissioner for cancellation the certificates…
   • § 4965 (a) After a conversion becomes effective, the resulting depository corporation may issue an officers’ certificate, stating that the converting depository…
   • § 4966 (a) Within 60 days after a conversion, the resulting depository corporation shall file with the Secretary of State an officers’ certificate reciting the name…