In this chapter:
(a) “Acquiring licensee” means:
Terms Used In California Financial Code 31600
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(1) In the case of a merger, the licensee which is the surviving corporation;
(2) In the case of a purchase or sale, the licensee which is the purchaser.
(b) “Disappearing corporation” has the meaning set forth in Section 165 of the Corporations Code.
(c) “Surviving corporation” has the meaning set forth in Section 190 of the Corporations Code.
(Added by Stats. 1977, Ch. 1164.)