Section 4889 Of Article 1. Merger Into California State Depository Corporation From California Financial Code >> Division 1.6. >> Chapter 4. >> Article 1.
4889
. (a) When a merger becomes effective:
(1) Any reference to the disappearing depository corporation in
any writing, whether executed or taking effect before or after the
merger, shall be deemed a reference to the surviving corporation, if
not inconsistent with the other provisions of the writing.
(2) In case the disappearing depository corporation was
transacting trust business, the surviving depository corporation
shall succeed, without further transfer, to the rights, obligations,
properties, assets, investments, deposits, demands, agreements, and
trusts of the disappearing depository corporation under all trusts,
executorships, administrations, guardianships, agencies, and all
their fiduciary or representative capacities to the same extent as if
the surviving depository corporation had originally assumed such
fiduciary or representative capacities, and the surviving depository
corporation shall be entitled to take and execute the appointment to
all executorships, trusteeships, guardianships, and other fiduciary
or representative capacities to which the disappearing depository
corporation is or may be named in wills, whenever probated, or to
which the disappearing depository corporation is or may be named or
appointed by any other instrument.
(b) Subdivision (a) shall be construed as clarifying and
amplifying, not as limiting or restricting, the provisions of Section
1107 of the Corporations Code.