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HomeFinancial CodeDiv. 1.1Ch. 21Art. 1§ 1895 International Banking Merger Approval

§ 1895 International Banking Merger Approval

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 1895 International Banking Merger Approval

Key Takeaways

  • •If two big banks from different countries merge, they need to get permission from the state.
  • •They must file a special paper with the Secretary of State and get it approved.
  • •Once approved, they have to give a copy to the banking commissioner.
  • •The merger only happens after the commissioner gets the approved paper.

Example

Bank A from the U.S. and Bank B from Canada want to become one big bank.

They must first get permission and file papers with the Secretary of State. Once approved, they give a copy to the banking commissioner. Only then can they officially merge.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 1895 International Banking Merger Approval

Whenever a state international or foreign banking or financing corporation survives the merger of one or more international or foreign banking or financing corporations and the agreement for merger has been filed with the Secretary of State with the approval of the commissioner endorsed thereon, a copy thereof, certified by the Secretary of State, shall immediately be filed with the commissioner and upon, but not until, such filing the merger shall be and become effective for all purposes. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 23, 2026

Key Terms

state international or foreign banking or financing corporationmergeragreement for mergercommissionerSecretary of State

Related Statutes

  • § 1854 Corporation Articles Approval Filing
  • § 1892 Foreign Bank Conversion Approval
  • § 1852 Corporation Formation Authorization
  • § 1856 Corporate Investment Equity Limits
  • § 1858 Corporate Stock Purchase Limits

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 1895.
View Official Source