California § 4878.08. 4878.08. (Added by Stats. 1996, Ch. 887, Sec. 35.)

California Statutes

§ 4878.08. — 4878.08. (Added by Stats. 1996, Ch. 887, Sec. 35.)

California·Code FIN Financial Code - FIN·Div. 1.6. DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION·Ch. 3. CHAPTER 3. Sale·Art. 4.5. ARTICLE 4.5. Sale of Partial Trust Business Unit by California State Bank or Savings Association 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 a partial trust 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.

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
After a sale becomes effective, the seller or purchaser may issue an officers’ certificate stating that the seller sold a partial trust 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 § 4878.08. (4878.08. (Added by Stats. 1996, Ch. 887, Sec. 35.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.