California · Financial Code
FIN §4853: In case a purchaser is a California state depository corporation, the provisions of Chapter 13 (commencing with Section 1300) of Division 1 of Title 1 of the Corporations Code do not apply to the shar
What this law says, in plain English
California depository corporations are exempt from certain corporate provisions when purchasing shares under state law.
Read the full statutory text
In case a purchaser is a California state depository corporation, the provisions of Chapter 13 (commencing with Section 1300) of Division 1 of Title 1 of the Corporations Code do not apply to the shareholders of the purchaser in a sale.
Verify at the official source: California legislative text
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