ARTICLE 2. Conversion of Federal Depository Corporation Into California State Depository Corporation [4940. - 4952.]
Heading of Article 2 amended by Stats. 1995, Ch. 480, Sec. 182.
§§ 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…