Section 4879.16 Of Article 5. Other Sales Of Partial Business Units From California Financial Code >> Division 1.6. >> Chapter 3. >> Article 5.
4879.16
. Promptly after a sale becomes effective, the seller shall:
(a) Surrender to its regulator for cancellation the certificates
of authority or licenses issued to it by the regulator that relate to
the partial business unit sold.
(b) File with its regulator any report regarding the sale that the
regulator may require.