California Financial Code ARTICLE 4.5 - Sale of Partial Trust Business Unit by California State Bank or Savings Association to Uninsured Foreign (Other State) State Depository Corporation

• Section 4878.01.
  In this article, unless the context otherwise requires, “sale” means any sale described in Section 4878.02.(Amended by Stats. 1996, Ch. 1064, Sec. 499.2. Effective January...
• Section 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...
• Section 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 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 the...
• Section 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...
• Section 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 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...
• Section 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...

Last modified: October 22, 2018