A California state bank or a California industrial loan company may sell a California branch business unit to an insured foreign (other state) bank or an insured foreign (other state) industrial loan company pursuant to (1) this article and (2) the law of the domicile of the insured foreign (other state) bank or the insured foreign (other state) industrial loan company.

(Added by Stats. 1995, Ch. 480, Sec. 154. Effective October 2, 1995.)

Terms Used In California Financial Code 4877.02

  • Branch business unit: means all or substantially all of the business of a branch office of a depository corporation. See California Financial Code 4840
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