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Financial Code - FIN - FIN § 4831
Financial Code - FIN - FIN § 4831
(a) The commissioner may from time to time issue regulations and orders as may in his or her opinion be necessary to carry out the provisions and purposes of this division. (b) Regulations and orders issued under this division may, among other things, define any term used in this
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Financial Code - FIN - FIN § 4832
Financial Code - FIN - FIN § 4832
Whenever the commissioner issues an order or license under this division, he or she may impose conditions as may in his or her opinion be necessary to carry out the provisions and purposes of this division.
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Financial Code - FIN - FIN § 4833
Financial Code - FIN - FIN § 4833
In any proceeding under this division: (a) The burden of proving that an application should be approved is upon the applicant. (b) The burden of proving an exemption or an exception is upon the person claiming the exemption or the exception.
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Financial Code - FIN - FIN § 4834
Financial Code - FIN - FIN § 4834
The commissioner may honor applications from interested persons for interpretive opinions regarding any provision of this division or of any regulation or order issued under this division.
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Financial Code - FIN - FIN § 4835
Financial Code - FIN - FIN § 4835
Each application and report filed with the commissioner under this division or under any regulation or order issued under this division shall be in the form, shall contain the information, shall be signed in the manner, and shall, if the commissioner requires, be verified in the
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Financial Code - FIN - FIN § 4836
Financial Code - FIN - FIN § 4836
No person shall make any untrue statement of any material fact in any application or report filed with the commissioner under this division or under any regulation or order issued under this division, or willfully omit to state in any application or report filed with the commissi
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Financial Code - FIN - FIN § 4837
Financial Code - FIN - FIN § 4837
In determining whether to approve any application filed under this division or under any regulation or order issued under this division, the commissioner may consider proposals made by the applicant; and, if in the opinion of the commissioner it is probable that the applicant wil
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Financial Code - FIN - FIN § 4838
Financial Code - FIN - FIN § 4838
If the commissioner finds, with respect to any application filed under this division or under any regulation or order issued under this division, that not all the information which was required to be provided in or in connection with the application has been provided or that impl
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Financial Code - FIN - FIN § 4839
Financial Code - FIN - FIN § 4839
Fees shall be paid to, and collected by, the commissioner, as follows: (a) The fee for filing an application for approval of a sale under this division shall be two thousand five hundred dollars ($2,500). (b) The fee for filing an application for approval of a merger under this d
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Financial Code - FIN - FIN § 4840
Financial Code - FIN - FIN § 4840
In this chapter, unless the context otherwise requires: (a) “Branch business unit” means all or substantially all of the business of a branch office of a depository corporation. (b) “Business unit” means a branch business unit, a partial business unit, or a whole business unit. (
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Financial Code - FIN - FIN § 4841
Financial Code - FIN - FIN § 4841
The provisions of Section 1001 of the Corporations Code shall not apply to any transaction which is subject to this chapter.
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Financial Code - FIN - FIN § 4842
Financial Code - FIN - FIN § 4842
If a trust is transferred under this chapter, the transfer shall be good cause for removal of the trustee under the Trust Law (Division 9 (commencing with Section 15000) of the Probate Code).
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Financial Code - FIN - FIN § 4843
Financial Code - FIN - FIN § 4843
In case a national banking association or federal savings association that is authorized to transact trust business in this state sells a partial business unit located in this state of the type described in paragraph (1) or subparagraph (A) or (B) of paragraph (2) of subdivision
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Financial Code - FIN - FIN § 4845
Financial Code - FIN - FIN § 4845
In this article, unless the context otherwise requires, “sale” means any of the sales described in Section 4846.
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Financial Code - FIN - FIN § 4846
Financial Code - FIN - FIN § 4846
With the approval of the commissioner: (a) A bank may sell its whole business unit to a California state bank or a California state-licensed foreign (other nation) bank pursuant to (1) this article, (2) in case the seller is a national banking association or a California federall
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Financial Code - FIN - FIN § 4847
Financial Code - FIN - FIN § 4847
A seller and purchaser shall make an agreement of sale, providing: (a) That the seller shall sell to the purchaser, and the purchaser shall purchase from the seller, the seller’s whole business unit. (b) That the purchaser will assume and be subject to all the debts and liabiliti
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Financial Code - FIN - FIN § 4848
Financial Code - FIN - FIN § 4848
The agreement of sale shall be approved by the seller and purchaser, as follows: (a) In the case of a California state depository corporation: (1) If the sale constitutes a reorganization, as defined in Section 181 of the Corporations Code, the agreement of sale shall be approved
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Financial Code - FIN - FIN § 4849
Financial Code - FIN - FIN § 4849
(a) Any amendment to an agreement of sale shall be approved by the seller and purchaser, as follows: (1) In the case of a California state depository corporation, by the board of the corporation, and, if the principal terms of the agreement of sale were required to be approved by
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Financial Code - FIN - FIN § 4850
Financial Code - FIN - FIN § 4850
In the case of a seller or purchaser which is a California state depository corporation, any approval of the outstanding shares of the corporation required by Section 4848 or 4849 may be given before or after the approval of the board of the corporation.
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Financial Code - FIN - FIN § 4851
Financial Code - FIN - FIN § 4851
In obtaining any approval of outstanding shares required for an agreement of sale, in case the purchaser is a California state depository corporation, the purchaser, and, in case the seller is a California state depository corporation or in case the purchaser is a California stat
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Financial Code - FIN - FIN § 4852
Financial Code - FIN - FIN § 4852
A purchaser or seller that is a California state depository corporation, with the approval of its board and without further approval of the outstanding shares, may, and any other purchaser or seller, with approval as may be required under the law of its domicile, may, abandon the
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Financial Code - FIN - FIN § 4853
Financial Code - FIN - FIN § 4853
In case a purchaser is a California state depository corporation, the provisions of Chapter 13 (commencing with Section 1300) of Division 1 of Title 1 of the Corporations Code do not apply to the shareholders of the purchaser in a sale.
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Financial Code - FIN - FIN § 4854
Financial Code - FIN - FIN § 4854
A purchaser shall file the following with the commissioner: (a) A copy of the agreement of sale. (b) An officers’ certificate of the purchaser, certifying that the agreement of sale has been approved by the purchaser as required by Sections 4848 and 4849. (c) An officers’ certifi
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Financial Code - FIN - FIN § 4855
Financial Code - FIN - FIN § 4855
If the commissioner finds all of the following with respect to an application for approval of a sale, the commissioner shall approve the application: (a) That the sale will not result in a monopoly and will not be in furtherance of any combination or conspiracy to monopolize or t
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Financial Code - FIN - FIN § 4857
Financial Code - FIN - FIN § 4857
After an application for approval of a sale has been approved and all conditions precedent to the sale have been fulfilled, the commissioner shall approve the agreement of sale and endorse the approval on the original or a copy of the agreement of sale, and at that time the sale