California Financial Code ARTICLE 2 - Conversion of Federal Depository Corporation Into California State Depository Corporation

• Section 4940.
  In this article, unless the context otherwise requires, “conversion” means any of the conversions described in Section 4941.(Amended by Stats. 1996, Ch. 1064, Sec. 533....
• Section 4941.
  With the approval of the commissioner:(a) A national banking association may convert into a California state bank pursuant to this article and federal law.(b) A federal depository...
• Section 4942.
  A converting depository corporation shall adopt a plan of conversion pursuant to the provisions of federal law.(Added by Stats. 1982, Ch. 1411, Sec. 3.)
• Section 4943.
  In obtaining any approval of outstanding shares required for a plan of conversion, a converting depository corporation shall provide to its shareholders information as the...
• Section 4944.
  A converting depository corporation shall file the following with the commissioner:(a) The plan of conversion.(b) An officer’s certificate certifying that the plan of conversion has been approved...
• Section 4945.
  If the commissioner finds all of the factors set forth in Section 4925 with respect to an application for approval of a conversion, the commissioner...
• Section 4946.
  After an application for approval of a conversion has been approved by the commissioner but before the conversion becomes effective, the converting depository corporation shall...
• Section 4948.
  (a) After an application for approval of a conversion has been approved and all conditions precedent to the conversion have been fulfilled, the commissioner shall:(1) In case...
• Section 4949.
  When a conversion becomes effective, the commissioner shall issue to the resulting depository corporation certificates of authority, licenses, or other appropriate authorizations for the branch...
• Section 4950.
  When a conversion becomes effective:(a) The converting depository corporation shall cease to exist.(b) The resulting depository corporation shall succeed, without other transfer, to all the rights and...
• Section 4951.
  Promptly after a conversion becomes effective, the resulting depository corporation shall:(a) Surrender to the regulator of the converting depository corporation for cancellation the certificates of authority...
• Section 4952.
  (a) After a conversion becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the converting depository corporation...

Last modified: October 22, 2018