California Financial Code

§ 4965

FIN § 4965Div. 1.6 · Ch. 5 · Art. 3

Statute text

(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.

Legislative history

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