Section 4879.10 Of Article 5. Other Sales Of Partial Business Units From California Financial Code >> Division 1.6. >> Chapter 3. >> Article 5.
4879.10
. (a) In case the purchaser is either, and the seller is not
either, a California state depository corporation or California
state-licensed foreign (other nation) bank, if the commissioner finds
all of the following with respect to an application for approval of
a sale, he or she shall approve the application:
(1) That the sale will not result in a monopoly and will not be in
furtherance of any combination or conspiracy to monopolize or to
attempt to monopolize the banking, savings association, or industrial
loan business in any part of this state.
(2) That the sale will not have the effect in any section of this
state of substantially lessening competition, tending to create a
monopoly, or otherwise being in restraint of trade, or that the
anticompetitive effect is clearly outweighed in the public interest
by the probable effect of the sale in meeting the convenience and
needs of the community to be served.
(3) That the shareholders' equity of the purchaser will be
adequate and that the financial condition of the purchaser will be
satisfactory.
(4) That the directors and executive officers of the purchaser
will be satisfactory.
(5) That the purchaser will afford reasonable promise of
successful operation and that it is reasonable to believe that the
purchaser will be operated in a safe and sound manner and in
compliance with all applicable laws.
(6) That the sale will be fair, just, and equitable. For purposes
of this paragraph, in the case of any term of the sale that has been
determined by agreement between the seller and the purchaser in an
arm's length transaction, the commissioner shall find that the term
is fair, just, and equitable to the seller and the purchaser.
(7) In the case of a sale where the seller is a California savings
association, that the sale will not have a seriously adverse effect
on the total availability of financing for housing in any market area
of the seller in this state or that any effect of that type is
clearly outweighed in the public interest by the probable effect of
the sale in meeting the convenience and needs of the community to be
served. Nothing in this subdivision authorizes the commissioner to
require the purchaser to make financing for housing available.
If the commissioner finds otherwise, he or she shall deny the
application for approval of the sale.
(b) In case the seller is either, and the purchaser is not either,
a California state depository corporation or a California
state-licensed foreign (other nation) bank, if the commissioner finds
all of the following with respect to an application for approval of
a sale, he or she shall approve the application:
(1) That the sale will not have a seriously adverse effect on the
safety or soundness of the seller.
(2) That the sale will be fair, just, and equitable. For purposes
of this subdivision, in the case of any term of the sale that has
been determined by agreement between the seller and the purchaser in
an arm's length transaction, the commissioner shall find that the
term is fair, just, and equitable to the seller and the purchaser.
If the commissioner finds otherwise, he or she shall deny the
application for approval of the sale.
(c) In case the seller and the purchaser are each either a
California state depository corporation or a California state
depository corporation or a California state-licensed foreign (other
nation) bank, if the commissioner finds all of the factors set forth
in subdivisions (a) and (b) with respect to an application for
approval of a sale, the commissioner shall approve the application.
If the commissioner finds otherwise, the commissioner shall deny the
application.