Ca_Law

statute | California

Financial Code - FIN - FIN § 4874

  • UIDca_leginfo_codes:fin-4874
  • CitationFinancial Code - FIN - FIN § 4874
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued to it by the commissioner. (2) File with the commissioner any report of the sale that the commissioner may require. (

Text

Promptly after a sale becomes effective:
(a)
The seller shall:
(1)
Surrender to the commissioner for cancellation the certificates of authority or licenses issued to it by the commissioner.
(2)
File with the commissioner any report of the sale that the commissioner may require.
(b)
The seller shall wind
up and dissolve. However, if the seller is a California state bank, the seller may, in the alternative and with the approval of the commissioner, change into a nonbank corporation by amending its articles and changing its name.

Retrieval chunks

  • #1 | Financial Code - FIN - FIN § 4874

    Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued to it by the commissioner. (2) File with the commissioner any report of the sale that the commissioner may require. (b) The seller shall wind up an…