California § 4876.08. 4876.08. (Amended by Stats. 1996, Ch. 1064, Sec. 497.6.)

California Statutes

§ 4876.08. — 4876.08. (Amended by Stats. 1996, Ch. 1064, Sec. 497.6.)

California § 4876.08.

Code FINFinancial Code - FIN

Div. 1.6.DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION

Ch. 3.CHAPTER 3. Sale

Art. 3.5.ARTICLE 3.5. Sale of Whole Business Unit of California State Independent Trust Company to Uninsured Foreign (Other State) State Depository Corporation

This text of California § 4876.08. (4876.08. (Amended by Stats. 1996, Ch. 1064, Sec. 497.6.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Financial Code - FIN Code § 4876.08. (2026).

Text

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.

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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.