California Financial Code ARTICLE 5 - Other Sales of Partial Business Units
- Section 4879.01.
In this article, unless the context otherwise requires, “sale” means any of the sales described in Section 4879.02.(Amended by Stats. 1996, Ch. 1064, Sec. 500....
- Section 4879.02.
With the approval of the commissioner:(a) A bank may sell a partial business unit to a California state bank pursuant to (1) this article, (2) in...
- Section 4879.03.
A seller and purchaser shall make an agreement of sale, providing:(a) That the seller shall sell to the purchaser, and the purchaser shall purchase from the...
- Section 4879.04.
The agreement of sale shall be approved by the seller and purchaser, as follows:(a) In the case of a California state depository corporation:(1) If, as of the...
- Section 4879.05.
(a) Any amendment to an agreement of sale shall be approved by the seller and purchaser, as follows:(1) In the case of a California state depository corporation,...
- Section 4879.06.
In the case of a seller or purchaser that is a California state depository corporation, any approval of the outstanding shares of the corporation required...
- Section 4879.07.
In obtaining any approval of outstanding shares required for an agreement of sale, a purchaser or seller that is a California state depository corporation and,...
- Section 4879.08.
A purchaser or seller that is a California state depository corporation, with the approval or its board and without further approval of the outstanding shares,...
- Section 4879.09.
A purchaser or seller that is a California state depository corporation or California state-licensed foreign (other nation) bank, shall file the following with the commissioner:(a) A...
- Section 4879.10.
(a) In case the purchaser is either, and the seller is not either, a California state depository corporation or California state-licensed foreign (other nation) bank, if...
- Section 4879.11.
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 4879.12.
When a sale becomes effective, in case the purchaser is a California state depository corporation or California state-licensed foreign (other nation) bank:(a) Unless the purchaser provided...
- Section 4879.13.
In case a seller is a California state commercial bank and sells all of its trust business in a sale:(a) As of the time when the...
- Section 4879.14.
When a sale becomes effective:(a) The purchaser shall succeed, without other transfer, to all rights and property of the seller which are sold to the purchaser...
- Section 4879.15.
No action on account of any debt or liability assumed by a purchaser in a sale may be commenced against the seller more than one...
- Section 4879.16.
Promptly after a sale becomes effective, the seller shall:(a) Surrender to its regulator for cancellation the certificates of authority or licenses issued to it by the...
- Section 4879.17.
(a) After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold a...
Last modified: October 22, 2018