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Cal. Fin. Code § 4951

Conversion of Federal Depository Corporation Into California State Depository Corporation

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

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

Added by Stats. 1982, Ch. 1411, Sec. 3.

Promptly after a conversion becomes effective, the resulting depository corporation shall:

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

(b) File with the regulator of the converting depository corporation such report regarding the conversion as 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.