In case a national banking association or federal savings association that is authorized to transact trust business in this state sells a partial business unit located in this state of the type described in paragraph (1) or subparagraph (A) or (B) of paragraph (2) of subdivision (e) of Section 4840 to a national banking association or federal savings association pursuant to federal law, the sale shall:
(a) Have the same effect as provided in subdivision (e) of Section 4879.14 in the case of a sale of the type defined in Section 4879.01.
(b) Be subject to the provisions of Section 4842.
(Amended by Stats. 2003, Ch. 404, Sec. 9. Effective January 1, 2004.)
Last modified: October 25, 2018