Ca_Law

statute | California

Financial Code - FIN - FIN § 4862

  • UIDca_leginfo_codes:fin-4862
  • CitationFinancial Code - FIN - FIN § 4862
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

(a) After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold its whole business unit to the purchaser and specifying the time at which the sale became effective. (b) Any certificate

Text

(a)
After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold its whole business unit to the purchaser and specifying the time at which the sale became effective.
(b)
Any certificate pursuant to subdivision (a) shall be prima facie evidence of the fact of the sale and of the regularity of the proceedings taken for the sale and shall be conclusive evidence of the matters in favor
of any innocent purchaser or encumbrancer for value.

Retrieval chunks

  • #1 | Financial Code - FIN - FIN § 4862

    (a) After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold its whole business unit to the purchaser and specifying the time at which the sale became effective. (b) Any certificate pursuant to subdivision (a) shall be…