In case a purchaser is a California state depository corporation, the provisions of Chapter 13 (commencing with Section 1300) of Division 1 of Title 1 of the Corporations Code do not apply to the shareholders of the purchaser in a sale.
Cal. Fin. Code § 4853
Sale of Whole Business Unit to California State Depository Corporation or California State-Licensed Foreign (Other Nation) Bank
Known as the Depository Corporation Sale, Merger, and Conversion Law
The act spans §§ 4800–4966 (181 sections).
Amended by Stats. 1995, Ch. 480, Sec. 138
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.