Section 4862 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.
4862
. (a) After a sale becomes effective, the commissioner shall
issue, upon application, a certificate under his or her official
seal, stating that the seller sold its whole business unit to the
purchaser and specifying the time at which the sale became effective.
(b) Any certificate pursuant to subdivision (a) shall be prima
facie evidence of the fact of the sale and of the regularity of the
proceedings taken for the sale and shall be conclusive evidence of
the matters in favor of any innocent purchaser or encumbrancer for
value.