California · Financial Code

FIN §4840: In this chapter, unless the context otherwise requires: (a) “Branch business unit” means all or substantially all of the business of a branch office of a depository corporation.

What this law says, in plain English

This statute defines 'branch business unit' as all or substantially all of the business conducted by a branch office of a depository corporation.

Read the full statutory text
In this chapter, unless the context otherwise requires: (a) “Branch business unit” means all or substantially all of the business of a branch office of a depository corporation. (b) “Business unit” means a branch business unit, a partial business unit, or a whole business unit. (c) “Independent trust company” means a trust company that is neither a commercial bank nor a title insurance company. (d) “Fiduciary asset,” when used with respect to a depository corporation that transacts trust business, means any asset that the depository corporation holds in its capacity as fiduciary. (e) “Partial business unit” means all or substantially all of any of the following: (1) The business of any office, other than the head office, of a depository corporation. (2) In the case of a depository corporation that transacts trust business: (A) The trust business of the depository corporation, unless the depository corporation transacts only trust business. (B) The trust business of any office of the depository corporation. (C) The business, other than trust business, of the depository corporation. (D) The business, other than trust business, of any office of the depository corporation. In addition, “partial business unit” means any deposit, any fiduciary account, or any portion of the business of a depository corporation that includes a deposit or fiduciary account and that is less than substantially all of the business of the depository corporation. (f) “Partial trust business unit” means: (1) In the case of a California state depository corporation that is an independent trust company: (A) All or substantially all of the business of any office, other than the head office, of the depository corporation. (B) Any partial business unit consisting of one or more fiduciary accounts and no deposits. (2) In the case of a California state depository corporation that is a commercial bank or savings association: (A) All or substantially all of the trust business of the depository corporation. (B) All or substantially all of the trust business of any office, other than the head office, of the depository corporation. (C) Any partial business unit consisting of one or more fiduciary accounts and no deposits. (g) “Purchaser” means a depository corporation that purchases a business unit from another depository corporation pursuant to the provisions of this chapter. (h) “Seller” means a depository corporation that sells a business unit to another depository corporation pursuant to the provisions of this chapter. (i) “Whole business unit” means all or substantially all of the business of a depository corporation.

Verify at the official source: California legislative text

Facing this? Know exactly what happens next.

MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.

This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.