Merger and Purchase or Sale of Business
Known as the Capital Access Company Law
The act spans §§ 28000–28958 (104 sections).
Added by Stats. 1998, Ch. 668, Sec. 3
No licensee shall merge with any other company unless either of the following apply:
(a) If the licensee is to be the surviving company, the merger is first approved by the commissioner.
(b) If the licensee is to be a disappearing company, the surviving company is a licensee and the merger is first approved by the commissioner.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.