§ 4964 Conversion Reporting Requirements

Financial Code·California

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Key Takeaways

•If a bank changes its type (like from a small bank to a big bank), it must give back its old permission papers to the boss (commissioner).
•The bank must also tell the boss about the change in a report the boss asks for.
•This must be done quickly after the change happens.

Example

A small local bank becomes a big national bank.

After the change, the bank must give its old permission papers to the boss and write a report about how it changed.

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

Official Source

View on CA.gov

§ 4964 Conversion Reporting Requirements

Promptly after a conversion becomes effective, the resulting depository corporation shall: (a) Surrender to the commissioner for cancellation the certificates of authority or licenses issued by the commissioner to the converting depository corporation; and (b) File with the commissioner such report of the conversion as the commissioner may require. (Amended by Stats. 1996, Ch. 1064, Sec. 544. Effective January 1, 1997. Operative July 1, 1997.)

Last verified: January 23, 2026

Key Terms

corporation conversion commissioner.license port operative july institution cancellation

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 4964.

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Key Takeaways

Example

Key Terms

Related Statutes

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