California Financial Code 4941 – With the approval of the commissioner:(a) A national banking …
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With the approval of the commissioner:
(a) A national banking association may convert into a California state bank pursuant to this article and federal law.
Terms Used In California Financial Code 4941
- 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.
(b) A federal depository corporation of any class may convert into a California state depository corporation of another class pursuant to federal law and this article.
(Amended by Stats. 1996, Ch. 1064, Sec. 534. Effective January 1, 1997. Operative July 1, 1997.)