California Financial Code 4904 – Promptly after a merger becomes effective, the surviving depository …
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Promptly after a merger becomes effective, the surviving depository corporation shall:
(1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued by the commissioner to the disappearing depository corporation; and
Terms Used In California Financial Code 4904
- 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.
- merger: means any of the mergers described in Section 4901. See California Financial Code 4900
(2) File with the commissioner such report of the merger as the commissioner may require.
(Amended by Stats. 1996, Ch. 1064, Sec. 521. Effective January 1, 1997. Operative July 1, 1997.)