California Financial Code 4879.03 – A seller and purchaser shall make an agreement of sale, …
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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, a partial business unit, describing it.
Terms Used In California Financial Code 4879.03
- Business unit: means a branch business unit, a partial business unit, or a whole business unit. See California Financial Code 4840
- Purchaser: means a depository corporation that purchases a business unit from another depository corporation pursuant to the provisions of this chapter. See California Financial Code 4840
- sale: means any of the sales described in Section 4879. See California Financial Code 4879.01
- Seller: means a depository corporation that sells a business unit to another depository corporation pursuant to the provisions of this chapter. See California Financial Code 4840
(b) Other provisions as may be appropriate.
(Added by Stats. 1995, Ch. 480, Sec. 155. Effective October 2, 1995.)