California Statutes
§ 4948. — 4948. (Amended by Stats. 1996, Ch. 1064, Sec. 540.)
California·Code FIN Financial Code - FIN·Div. 1.6. DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION·Ch. 5. CHAPTER 5. Conversion·Art. 2. ARTICLE 2. Conversion of Federal Depository Corporation Into California State Depository Corporation
(a)After an application for approval of a conversion has been approved and all conditions precedent to the conversion have been fulfilled, the commissioner shall:
(1)In case the resulting depository corporation is a California state bank, issue to the resulting depository corporation a certificate of authority authorizing it to transact commercial banking business or commercial banking business and trust business, as the case may be.
(2)In case the resulting depository corporation is a California state savings association, issue to the resulting depository corporation a license authorizing it to transact business as a California state savings association.
(3)In case the resulting depository corporation is a California industrial loan company, issue to the resulting depository corporati
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California § 4948. (4948. (Amended by Stats. 1996, Ch. 1064, Sec. 540.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1996, Ch. 1064, Sec. 540. Effective January 1, 1997. Operative July 1, 1997.