California Financial Code

§ 5755

FIN § 5755Div. 2 · Ch. 2 · Art. 7

Statute text

When a merger or consolidation agreement has been approved by the directors and the stockholders or members of an association, the association shall mail notice of the approval to each of its stockholders or members at least 10 days before filing the certificate as provided in this section unless the consents of all stockholders or members entitled to vote have been solicited and received in writing. After approval by the directors and stockholders or members has been given, the association shall prepare and submit to the commissioner for written approval a certificate in the form of an officers’ certificate (Section 173 of the Corporations Code) which shall set forth the following:

(a)An identification of the agreement of merger or consolidation by reference to names of parties and date.

(b)That the agreement was approved by the board of directors of the association.

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Legislative history

Amended by Stats. 1986, Ch. 361, Sec. 5.