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Cal. Fin. Code § 4908.10

Merger of California State Independent Trust Company into Uninsured Foreign (Other State) Depository Corporation

Known as the Depository Corporation Sale, Merger, and Conversion Law

The act spans §§ 4800–4966 (181 sections).

Added by Stats. 1996, Ch. 887, Sec. 46

(a) After a merger becomes effective, the surviving depository corporation may issue an officers’ certificate, stating that the disappearing depository corporation merged into the surviving depository corporation and specifying the time at which the merger became effective.

(b) Any certificate issued pursuant to subdivision (a) shall be prima facie evidence of the fact of the merger and of the regularity of the proceedings taken for the merger and shall be conclusive evidence of the matters in favor of any innocent purchaser or encumbrancer for value.

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