California § 4876.09. 4876.09. (Added by Stats. 1996, Ch. 887, Sec. 32.)

California Statutes

§ 4876.09. — 4876.09. (Added by Stats. 1996, Ch. 887, Sec. 32.)

California·Code FIN Financial 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

(a)After a sale becomes effective, the seller or purchaser may issue an officers’ certificate 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 issued 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.

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(a)
After a sale becomes effective, the seller or purchaser may issue an officers’ certificate 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 issued 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.

California § 4876.09. (4876.09. (Added by Stats. 1996, Ch. 887, Sec. 32.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.