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HomeFinancial CodeDiv. 2Ch. 2Art. 7§ 5758 Filing Merger Agreement

§ 5758 Filing Merger Agreement

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

§ 5758 Filing Merger Agreement

Key Takeaways

  • •If two companies want to merge, they need to get permission from the commissioner first.
  • •After getting permission, they must file the agreement with the Secretary of State to make the merger official.
  • •The merger starts on the day the approved agreement is filed with the Secretary of State.
  • •If the new company is a federal one, the merger starts when the Office of Thrift Supervision says it does.

Example

Two small banks want to become one bigger bank.

They need to get permission from the commissioner, then file the papers with the Secretary of State. The merger only becomes official once those papers are filed. If the new bank is federal, the merger starts when the federal office approves it.

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

Official Source
View on CA.gov

§ 5758 Filing Merger Agreement

The executed agreement, or an executed counterpart of it and the respective certificate of each constituent association or any other corporation and of the surviving association shall be filed with the Secretary of State. Neither the agreement nor any certificate shall be filed, however, unless the commissioner’s written approval is attached. The effective date of the merger or consolidation under this article shall be the date of the filing with the Secretary of State of the copy of the approved agreement of merger or consolidation. A copy of the approved agreement certified by the Secretary of State shall be filed with the commissioner. If the resulting association is a federal association, the effective date of merger shall be the date the merger is effective under regulations of the Office of Thrift Supervision. (Amended by Stats. 2006, Ch. 773, Sec. 47. Effective September 29, 2006.)

Last verified: January 23, 2026

Key Terms

agreementassociationcorporationcommissionregulationmergersecretaryconsolidation

Related Statutes

  • § 5755 Merger Notice And Filing
  • § 5613 Securities Sale Permit Requirement
  • § 5654 Association Office And Name Changes
  • § 5750 Association Reorganization And Mergers
  • § 5754 Merger Agreement Article Amendments

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 5758.
View Official Source