California § 4877.07. 4877.07. (Added by Stats. 1995, Ch. 480, Sec. 154.)

California Statutes

§ 4877.07. — 4877.07. (Added by Stats. 1995, Ch. 480, Sec. 154.)

California·Code FIN Financial Code - FIN·Div. 1.6. DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION·Ch. 3. CHAPTER 3. Sale·Art. 4. ARTICLE 4. Certain Sales of Partial Business Units

(a)After a sale becomes effective, the seller or purchaser may issue an officer’s certificate stating that the seller sold a California branch business unit to the purchaser, describing the business unit, 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 officer’s certificate stating that the seller sold a California branch business unit to the purchaser, describing the business unit, 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 § 4877.07. (4877.07. (Added by Stats. 1995, Ch. 480, Sec. 154.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.