Current as of: 2010 If the commissioner finds, with respect to an application
for approval of a merger, purchase, or sale:
(a) That the merger, purchase, or sale will be safe and sound with
respect to the acquiring licensee;
(b) That it is reasonable to believe that, upon consummation of
the merger, purchase, or sale, the acquiring licensee will comply
with all applicable provisions of this division and of any regulation
or order issued under this division; and
(c) That the merger, purchase, or sale will not be detrimental to
the public convenience and advantage, or, if the merger, purchase, or
sale would be detrimental to the public convenience and advantage,
that it is necessary in the interests of the safety and soundness of
any of the parties to it;
The commissioner shall approve the application. If, after notice
and a hearing, the commissioner finds otherwise, he or she shall deny
the application.
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Questions & Answers: Types of InstitutionsCalifornia Laws: Types of Institutions
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