California Codes > Financial Code > Division 1.6 > Chapter 3 > Article 3 – Sale of Whole Business Unit to Federal Depository Corporation, California Federally Licensed Foreign (Other Nation) Bank, or Insured Foreign (Other State) State Depository Corporation


§ 4870	In this article, unless the context otherwise requires, “sale” means …
§ 4871	(a) A California state bank may sell its whole business unit to …
§ 4871.5	(a) No provision of Division 1.1 (commencing with Section 1000), …
§ 4872	A sale is subject to the provisions of Sections 4847 to 4850, …
§ 4873	A sale shall have the same effect as provided in Sections 4859 and …
§ 4874	Promptly after a sale becomes effective:(a) The seller …
§ 4875	(a) After a sale becomes effective, the seller or purchaser may …

Business unit: means a branch business unit, a partial business unit, or a whole business unit. See California Financial Code 4840
Purchaser: means a depository corporation that purchases a business unit from another depository corporation pursuant to the provisions of this chapter. See California Financial Code 4840
sale: means any of the sales described in Section 4871. See California Financial Code 4870
Seller: means a depository corporation that sells a business unit to another depository corporation pursuant to the provisions of this chapter. See California Financial Code 4840
Whole business unit: means all or substantially all of the business of a depository corporation. See California Financial Code 4840

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