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Cal. Fin. Code § 4890

Merger Into California 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. 517

Promptly after a merger becomes effective:

(a) The surviving depository corporation shall:

(1) Surrender to the regulator of the disappearing depository corporation for cancellation the certificates of authority or licenses issued to the disappearing depository corporation by the regulator; and

(2) File with the regulator of the disappearing depository corporation such report regarding the merger as the regulator may require.

(b) The commissioner shall file a report regarding the merger with the Secretary of State.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.