Section 4871 Of Article 3. Sale Of Whole Business Unit To Federal Depository Corporation, California Federally Licensed Foreign (other Nation) Bank, Or Insured Foreign (other State) State Depository Corporation From California Financial Code >> Division 1.6. >> Chapter 3. >> Article 3.
4871
. (a) A California state bank may sell its whole business unit
to a national banking association, a California federally licensed
foreign (other nation) bank, or an insured foreign (other state)
state bank pursuant to (1) this article, (2) in case the purchaser is
a national banking association or a California federally licensed
foreign (other nation) bank, federal law, and (3) in case the
purchaser is a California federally licensed foreign (other nation)
bank or an insured foreign (other state) state bank, the law of the
foreign bank's domicile.
(b) A California industrial loan company may sell its whole
business unit to an insured foreign (other state) industrial loan
company pursuant to (1) this article and (2) the law of the foreign
industrial loan company's domicile.
(c) A California state depository corporation of any class may
sell its whole business unit to a federal depository corporation of
another class, a California federally licensed foreign (other nation)
bank, or an insured foreign (other state) state depository
corporation of another class pursuant to (1) this article, (2) in
case the purchaser is a federal depository corporation or a
California federally licensed foreign (other nation) bank, federal
law, and (3) in case the purchaser is a California federally licensed
foreign (other nation) bank or an insured foreign (other state)
state depository corporation, the law of the domicile of the foreign
bank or foreign depository corporation.