Statute · California Financial Code
Cal. Fin. Code § 4862 — Sale of Whole Business Unit to California State Depository Corporation or California State-Licensed Foreign (Other Nation) Bank
Cal. Fin. Code § 4862
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 1997-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(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.
Citator
Cal. Fin. Code § 4862 — Sale of Whole Business Unit to California State Depository Corporation or California State-Licensed Foreign (Other Nation) Bank is in force in the current edition of the Code, and nothing recorded condemns it.
(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.