A California state bank or a California industrial loan company may sell a California branch business unit to an insured foreign (other state) bank or an insured foreign (other state) industrial loan company pursuant to (1) this article and (2) the law of the domicile of the insured foreign (other state) bank or the insured foreign (other state) industrial loan company.
Cal. Fin. Code § 4877.02
Certain Sales of Partial Business Units
Known as the Depository Corporation Sale, Merger, and Conversion Law
The act spans §§ 4800–4966 (181 sections).
Added by Stats. 1995, Ch. 480, Sec. 154
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.