§ 4846
213 words·~1 min read·
/ca/financial-code/4846A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
With the approval of the commissioner:
(a)A bank may sell its whole business unit to a California state bank or a California state-licensed foreign (other nation) bank pursuant to
(1)this article,
(2)in case the seller is a national banking association or a California federally licensed foreign (other nation) bank, federal law, and
(3)in case the seller or purchaser is a foreign bank, the law of the foreign bank’s domicile.
(b)An industrial loan company may sell its whole business unit to a California industrial loan company pursuant to
(1)this article and
(2)in case the seller is a foreign (other state) industrial loan company, the law of the foreign industrial loan company’s domicile.
(c)A depository corporation of any class may sell its whole business unit to a California state depository corporation of another class or a California state-licensed foreign (other nation) bank pursuant to
(1)this article,
(2)in case the seller is a federal depository corporation or a California federally licensed foreign (other nation) bank, federal law,
(3)in case the seller is a foreign depository corporation, the law of the foreign depository corporation’s domicile, and
(4)in case the purchaser is a California state-licensed foreign (other nation) bank, the law of the foreign bank’s domicile.