Promptly after a merger becomes effective:
(a) The surviving depository corporation shall:
(1) Surrender to the regulator of the disappearing depository corporation for cancellation the certificates of authority or licenses issued to the disappearing depository corporation by the regulator; and
(2) File with the regulator of the disappearing depository corporation such report regarding the merger as the regulator may require.
(b) The commissioner shall file a report regarding the merger with the Secretary of State.
(Amended by Stats. 1996, Ch. 1064, Sec. 517. Effective January 1, 1997. Operative July 1, 1997.)
Last modified: October 25, 2018