(a) A California state bank may convert into a national banking association pursuant to this article and federal law.

(b) A California state depository corporation of any class may convert into a federal depository corporation of another class pursuant to this article and federal law.

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Terms Used In California Financial Code 4961

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

(Repealed and added by Stats. 1995, Ch. 480, Sec. 194. Effective October 2, 1995.)

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