California Financial Code 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

• Section 4870.
  In this article, unless the context otherwise requires, “sale” means any of the sales described in Section 4871.(Amended by Stats. 1995, Ch. 480, Sec. 146....
• Section 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 an...
• Section 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 or restricts...
• Section 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...
• Section 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 4874.
  Promptly after a sale becomes effective:(a) The seller shall:(1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued to it by the commissioner.(2) File...
• Section 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...

Last modified: October 22, 2018