California Financial Code

§ 4908.10

FIN § 4908.10 Effective Sep 25, 1996Div. 1.6 · Ch. 4 · Art. 4

Statute text

(a)After a merger becomes effective, the surviving depository corporation may issue an officers’ certificate, stating that the disappearing depository corporation merged into the surviving depository corporation and specifying the time at which the merger became effective.

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

Legislative history

Added by Stats. 1996, Ch. 887, Sec. 46. Effective September 25, 1996.