With the approval of the commissioner, a California state independent trust company may sell its whole business unit to an uninsured foreign (other state) state depository corporation pursuant to this article and the law of the purchaser’s domicile.
Cal. Fin. Code § 4876.02
Sale of Whole Business Unit of California State Independent Trust Company to Uninsured Foreign (Other State) State Depository Corporation
Known as the Depository Corporation Sale, Merger, and Conversion Law
The act spans §§ 4800–4966 (181 sections).
Amended by Stats. 1996, Ch. 1064, Sec. 497.2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.