California Statutes
§ 5759. — 5759. (Amended by Stats. 1984, Ch. 868, Sec. 7.)
California·Code FIN Financial Code - FIN·Div. 2. DIVISION 2. SAVINGS ASSOCIATION LAW·Ch. 2. CHAPTER 2. Corporate Organization and Corporate Changes·Art. 7. ARTICLE 7. Power to Reorganize, Merge, Consolidate, or Transfer Assets
An association may acquire all or at least 90 percent of the issued and outstanding stock of another association, or any other corporation, with the prior written approval of the commissioner upon conditions that the commissioner may impose as a step in a plan of merger to be approved by the commissioner. The acquisition of stock shall be upon terms as may be approved by the board of directors of the acquiring association and ratified by the vote or written consent of holders of a majority of the outstanding stock of each class of stockholders of the acquiring association.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 5759. (5759. (Amended by Stats. 1984, Ch. 868, Sec. 7.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1984, Ch. 868, Sec. 7.