Public-domain · open source
OpenJurist

Cal. Fin. Code § 4952

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).

Amended by Stats. 1996, Ch. 1064, Sec. 543

(a) After a conversion becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the converting depository corporation was converted into the resulting depository corporation and specifying the time at which the conversion became effective.

(b) Any certificate issued pursuant to subdivision (a) shall be prima facie evidence of the fact of the conversion and of the regularity of the proceedings taken for the conversion and shall be conclusive evidence of such 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.