Other 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. 155
Promptly after a sale becomes effective, the seller shall:
(a) Surrender to its regulator for cancellation the certificates of authority or licenses issued to it by the regulator that relate to the partial business unit sold.
(b) File with its regulator any report regarding the sale that the regulator 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.