§ 4895.02. — 4895.02. (Amended by Stats. 1996, Ch. 1064, Sec. 519.)

California § 4895.02.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 1.6.: DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION
• Ch. 4.: CHAPTER 4. Merger
• Art. 2.: ARTICLE 2. Merger Into California State-Licensed Foreign (Other Nation) Bank

Text

With the approval of the commissioner:
(a)
A California depository corporation may merge into a California state-licensed foreign (other nation) bank pursuant to (1) this article, (2) in case the disappearing depository corporation is a federal depository corporation, federal law, and (3) the law of the foreign bank’s domicile.
(b)
A foreign (other state) depository corporation that has a branch office in this state may merge
into a California state-licensed foreign (other nation) bank pursuant to (1) this article, (2) in case the disappearing depository corporation is a federal depository corporation, federal law, and (3) the laws of the domiciles of the disappearing depository corporation and of the foreign bank.

Legislative History

Amended by Stats. 1996, Ch. 1064, Sec. 519. Effective January 1, 1997. Operative July 1, 1997.