ARTICLE 4.5. Sale of Partial Trust Business Unit by California State Bank or Savings Association to Uninsured Foreign (Other State) State Depository Corporation
Article 4.5 added by Stats. 1996, Ch. 887, Sec. 35.
§§ 4878.01–4878.08 · 8 sections
- § 4878.01 In this article, unless the context otherwise requires, “sale” means any sale described in Section 4878.02.
- § 4878.02 With the approval of the commissioner, a California state bank or savings association may sell a partial trust business unit to an uninsured foreign (other…
- § 4878.03 A sale is subject to the provisions of Sections 4879.03 to 4879.09, inclusive, as if the sale were a sale of the type defined in Section 4879.01.
- § 4878.04 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…
- § 4878.05 After an application for approval of a sale has been approved by the commissioner and all conditions precedent to the sale have been fulfilled, the…
- § 4878.06 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.
- § 4878.07 (a) In case a seller is a California state commercial bank and sells all of its trust business in a sale: (1) As of the time when the sale becomes effective,…
- § 4878.08 (a) After a sale becomes effective, the seller or purchaser may issue an officers’ certificate stating that the seller sold a partial trust business unit to…