Statute · California Financial Code
Cal. Fin. Code § 4878.08 — Sale of Partial Trust Business Unit by California State Bank or Savings Association to Uninsured Foreign (Other State) State Depository Corporation
Cal. Fin. Code § 4878.08
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 1996-09-25
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) After a sale becomes effective, the seller or purchaser may issue an officers’ certificate stating that the seller sold a partial trust business unit to the purchaser, describing the business unit, and specifying the time at which the sale became effective.
Citator
Cal. Fin. Code § 4878.08 — Sale of Partial Trust Business Unit by California State Bank or Savings Association to Uninsured Foreign (Other State) State Depository Corporation is in force in the current edition of the Code, and nothing recorded condemns it.
(a) After a sale becomes effective, the seller or purchaser may issue an officers’ certificate stating that the seller sold a partial trust business unit to the purchaser, describing the business unit, and specifying the time at which the sale became effective.
(b) Any certificate issued 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.