California Statutes
§ 4862. — 4862. (Amended by Stats. 1996, Ch. 1064, Sec. 496.)
California·Code FIN Financial Code - FIN·Div. 1.6. DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION·Ch. 3. CHAPTER 3. Sale·Art. 2. ARTICLE 2. Sale of Whole Business Unit to California State Depository Corporation or California State-Licensed Foreign (Other Nation) Bank
(a)After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold its whole business unit to the purchaser and specifying the time at which the sale became effective.
(b)Any certificate pursuant to subdivision (a) shall be prima facie evidence of the fact of the sale and of the regularity of the proceedings taken for the sale and shall be conclusive evidence of the matters in favor
of any innocent purchaser or encumbrancer for value.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 4862. (4862. (Amended by Stats. 1996, Ch. 1064, Sec. 496.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1996, Ch. 1064, Sec. 496. Effective January 1, 1997. Operative July 1, 1997.