SECTIONS 4895.01-4895.06 - California Statutes

FINANCIAL CODE

SECTION 4895.01-4895.06

4895.01. In this article, unless the context otherwise requires,
"merger" means any of the mergers described in Section 4895.02.

4895.02. With the approval of the commissioner:
(a) A California depository corporation may merge into a
California state-licensed foreign (other nation) bank pursuant to (1)
this article, (2) in case the disappearing depository corporation is
a federal depository corporation, federal law, and (3) the law of
the foreign bank's domicile.
(b) A foreign (other state) depository corporation that has a
branch office in this state may merge into a California
state-licensed foreign (other nation) bank pursuant to (1) this
article, (2) in case the disappearing depository corporation is a
federal depository corporation, federal law, and (3) the laws of the
domiciles of the disappearing depository corporation and of the
foreign bank.

4895.03. In case the disappearing depository corporation is a
California state depository corporation, a merger is subject to the
provisions of Section 1108 of the Corporations Code.

4895.04. (a) In case the disappearing depository corporation is a
California state depository corporation, a merger has the same effect
as provided in Section 1107 of the Corporations Code and Section
4889 in the case of a merger of the type defined in Section 4880.
(b) In case the disappearing depository corporation is not a
California state depository corporation, a merger has the same effect
with respect to the disappearing corporation's business in this
state as provided in Section 1107 of the Corporations Code and
Section 4889 in the case of a merger of the type defined in Section
4880.

4895.05. (a) A merger shall not become effective unless it has been
approved by the commissioner.
(b) After an application for approval of a merger has been
approved and all conditions precedent to the merger have been
fulfilled, the commissioner shall approve the merger.

4895.06. A merger is subject to the provisions of Sections 4884 to
4885, inclusive, and 4888 to 4891, inclusive, as if the merger were a
merger of the type defined in Section 4880.