§ 4904 Merger Certificate Surrender

Financial Code·California

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Key Takeaways

•After two banks merge, the new bank must give back the old bank's permission papers to the boss (commissioner).
•The new bank must also tell the boss about the merger in a report the boss asks for.

Example

Bank A and Bank B merge to become Bank C.

Bank C must return Bank A's old permission papers to the boss and fill out a report about the merger for the boss.

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

Official Source

View on CA.gov

§ 4904 Merger Certificate Surrender

Promptly after a merger becomes effective, the surviving depository corporation shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued by the commissioner to the disappearing depository corporation; and (2) File with the commissioner such report of the merger as the commissioner may require. (Amended by Stats. 1996, Ch. 1064, Sec. 521. Effective January 1, 1997. Operative July 1, 1997.)

Last verified: January 23, 2026

Key Terms

corporation license merger commission port cancellation operative july institution

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 4904.

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Key Takeaways

Example

Key Terms

Related Statutes

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