(a) After a conversion becomes effective, the resulting depository corporation may issue an officers’ certificate, stating that the converting depository corporation converted into the resulting depository corporation and specifying the time at which the conversion became effective.

(b) Any certificate issued pursuant to subdivision (a) shall be prima facie evidence of the fact of the conversion and of the regularity of the proceedings taken for the conversion and shall be conclusive evidence of such matters in favor of any innocent purchaser or encumbrancer for value.

Terms Used In California Financial Code 4965

  • conversion: means any of the conversions described in Section 4961. See California Financial Code 4960
  • 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.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.

(Added by Stats. 1982, Ch. 1411, Sec. 3.)

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