Section 4857 Of Article 2. Sale Of Whole Business Unit To California State Depository Corporation Or California State-licensed Foreign (other Nation) Bank From California Financial Code >> Division 1.6. >> Chapter 3. >> Article 2.

. After an application for approval of a sale has been approved and all conditions precedent to the sale have been fulfilled, the commissioner shall approve the agreement of sale and endorse the approval on the original or a copy of the agreement of sale, and at that time the sale shall become effective for all purposes.