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DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION 4800-4966›CHAPTER 4. Merger 4880-4908.10›ARTICLE 1. Merger Into California State Depository Corporation 4880-4891

§ 4890

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

Promptly after a merger becomes effective:

(a) The surviving depository corporation shall:

(1) Surrender to the regulator of the disappearing depository corporation for cancellation the certificates of authority or licenses issued to the disappearing depository corporation by the regulator; and

(2) File with the regulator of the disappearing depository corporation such report regarding the merger as the regulator may require.

(b) The commissioner shall file a report regarding the merger with the Secretary of State.

(Amended by Stats. 1996, Ch. 1064, Sec. 517. Effective January 1, 1997. Operative July 1, 1997.)

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California Financial Code

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