California Financial Code 4961.5 – (a) No provision of Division 1.1 (commencing with Section 1000), …
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(a) No provision of Division 1.1 (commencing with Section 1000), except the provisions of Chapter 19 (commencing with Section 1670) of Division 1.1, prohibits or restricts the conversion of a California state bank.
(b) No provision of Division 2 (commencing with Section 5000) prohibits or restricts the conversion of a California state savings and loan association.
Terms Used In California Financial Code 4961.5
- conversion: means any of the conversions described in Section 4961. See California Financial Code 4960
(c) No provision of Division 7 (commencing with Section 18000), except the provisions of Chapter 10 (commencing with Section 18660) of Division 7, prohibits or restricts the conversion of a California industrial loan company.
(Amended by Stats. 2013, Ch. 334, Sec. 61. (SB 537) Effective January 1, 2014.)