Certain Sales of Partial Business Units
Known as the Depository Corporation Sale, Merger, and Conversion Law
The act spans §§ 4800–4966 (181 sections).
Amended by Stats. 1996, Ch. 1064, Sec. 499
Promptly after a sale becomes effective, the seller shall:
(a) Surrender to the commissioner for cancellation the certificate of authority or license issued to it by the commissioner that relates to the California branch business unit sold.
(b) File with the commissioner any report of the sale that the commissioner may require.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.