§ 4890 Merger Reporting Requirements

Financial Code·California

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Key Takeaways

•When two banks merge, the new bank must give back the old bank's permits to the government.
•The new bank must also tell the government about the merger in a report.
•The government will then tell the Secretary of State about the merger.

Example

Bank A and Bank B merge to become Bank C.

Bank C must return Bank B's old permits to the government and file a report about the merger. The government will then inform the Secretary of State.

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

Official Source

View on CA.gov

§ 4890 Merger Reporting Requirements

Promptly after a merger becomes effective: (a) The surviving depository corporation shall: (1) Surrender to the regulator of the disappearing depository corporation for cancellation the certificates of authority or licenses issued to the disappearing depository corporation by the regulator; and (2) File with the regulator of the disappearing depository corporation such report regarding the merger as the regulator may require. (b) The commissioner shall file a report regarding the merger with the Secretary of State. (Amended by Stats. 1996, Ch. 1064, Sec. 517. Effective January 1, 1997. Operative July 1, 1997.)

Last verified: January 23, 2026

Key Terms

corporation commission port merger secretary license operative july institution

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 4890.

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Key Takeaways

Example

Key Terms

Related Statutes

References