{"data":{"id":"us-ca/fin-5860","jurisdiction":"us-ca","citation":"FIN § 5860","heading":"","body":"Notwithstanding any other provision of law, but subject to prior approval of the commissioner, any mutual association may reorganize so as to become a mutual holding company by causing a reorganized savings and loan association to be incorporated and organized as a stock association under this chapter, transferring to the reorganized stock association a substantial part of the assets of that mutual association and causing the reorganized stock association to assume all or a substantial part of the liabilities of the mutual association, including all of its savings account liabilities.","path":["Financial Code - FIN","DIVISION 2. SAVINGS ASSOCIATION LAW [5000. - 10009.]","CHAPTER 2. Corporate Organization and Corporate Changes [5400. - 5868.]","ARTICLE 10. Mutual Holding Companies [5860. - 5868.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"1c9d373dd4b3d1c356b8d0dcf52449cdad759467983f62e6911e45326dbf6ec5","source_id":"us-ca","stale":false,"prev":"us-ca/fin-5850","next":"us-ca/fin-5861"},"notice":"GroundRules: Original legal text. Not legal advice."}