Jurris.COM
Chapter 9. Interstate Acquisitions of California Financial Code >> Division 7. >> Chapter 9.
This chapter does not apply to any of the following
transactions:
(a) An acquisition of control of a California industrial loan company that requires the approval of the commissioner under Section 18138.
(b) A sale or merger that requires the approval of the commissioner under Division 1.5 (commencing with Section 4800).
(a) An acquisition of control of a California industrial loan company that requires the approval of the commissioner under Section 18138.
(b) A sale or merger that requires the approval of the commissioner under Division 1.5 (commencing with Section 4800).
Each application filed with the commissioner for an approval
under this chapter shall be in the form, shall contain the
information, shall be signed in the manner, and shall, if the
commissioner requires by rule or order, be verified in the manner
that the commissioner may by rule or order require.
The fee for filing with the commissioner an application for
an approval under this chapter is four hundred dollars ($400).
(a) The definitions that are set forth in or are applicable
to Section 44 of the Federal Deposit Insurance Act (12 U.S.C. Sec.
1831u) apply to this section.
(b) This section does not apply unless each bank involved in an interstate merger transaction (including each insured depository institution that is an affiliate of the surviving, resulting, or purchasing bank) that is organized under the laws of this state or maintains a branch office in this state, is an industrial loan company (as defined in Section 4805.10).
(c) The commissioner may approve an interstate merger transaction that is subject to Section 44(b)(2)(B) and (D)(ii) of the Federal Deposit Insurance Act (12 U.S.C. Sec. 1831u(b)(2)(B) and (D)(ii)) if the commissioner finds that the transaction is consistent with the public convenience and advantage in this state.
(b) This section does not apply unless each bank involved in an interstate merger transaction (including each insured depository institution that is an affiliate of the surviving, resulting, or purchasing bank) that is organized under the laws of this state or maintains a branch office in this state, is an industrial loan company (as defined in Section 4805.10).
(c) The commissioner may approve an interstate merger transaction that is subject to Section 44(b)(2)(B) and (D)(ii) of the Federal Deposit Insurance Act (12 U.S.C. Sec. 1831u(b)(2)(B) and (D)(ii)) if the commissioner finds that the transaction is consistent with the public convenience and advantage in this state.
The commissioner is authorized to adopt rules to implement
this chapter similar to regulations adopted under similar provisions
of law contained in Chapter 21.5 (commencing with Section 3750) of
Division 1, and for the same or similar reasons. The authority
granted to the commissioner by this section is in addition to the
authority granted to the commissioner under Section 18347.
