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.]
Heading of Article 3 amended by Stats. 1996, Ch. 887, Sec. 29.
§§ 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…