GroundRules
FIN § 4876.08
Where this section sits in the code
- Financial Code - FIN
- DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION [4800. - 4966.]
- CHAPTER 3. Sale [4840. - 4879.17.]
- ARTICLE 3.5. Sale of Whole Business Unit of California State Independent Trust Company to Uninsured Foreign (Other State) State Depository Corporation [4876.01. - 4876.09.]
Promptly after a sale becomes effective:
(a) The seller shall:
(1) Surrender to the commissioner for cancellation the certificates of authority issued to it by the commissioner.
(2) File with the commissioner any report of the sale that the commissioner may require.
(b) The seller shall wind up and dissolve. However, the seller may, in the alternative and with the approval of the commissioner, change into a nonbank corporation by amending its articles and changing its name.
Collected 2026-09-14T05:56:33Z. Source file · JSON