Section 4826 Of Article 3. Other General Provisions From California Financial Code >> Division 1.6. >> Chapter 1. >> Article 3.
4826
. Notwithstanding any other provision of law, no savings
association or industrial loan company may convert into a bank if the
ownership of the savings association or industrial loan company is
such that the establishment or acquisition of control of a new state
bank or national banking association by the same ownership would not
be permitted by Section 3(d) of the Bank Holding Company Act of 1956
(12 U.S.C. Sec. 1842 (d)).