Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 1 - Commissioner of Business Oversight, Division of Financial InstitutionsSubchapter 10 - BanksArticle 4 - Establishment of California State BanksSubarticle 5 - Conversion of California National Bank into California State Bank
Part 4 - Post-Approval Matters
Section 10.4466 - Expiration and Extension of Approval of Application

Cal. Code Regs. tit. 10 § 10.4466

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Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 10.4466 - Expiration and Extension of Approval of Application
(a) The Commissioner's approval of an application for approval to convert into a subject institution shall, unless extended by the Commissioner, expire six months after the date of such approval.
(b) An application for an extension of the Commissioner's approval of an application for approval to convert into a subject institution shall contain:
(1) Date on which the approval is scheduled to expire.
(2) Description of progress to date in converting the applicant into the subject institution.
(3) Proposed timetable for completing the conversion.
(4) Amount of additional time requested for completing the conversion.
(5) Statement of reasons why such additional time is required for completing the conversion.
(c) Unless an applicant is converted into a subject institution before the Commissioner's approval of the application for approval to convert into such subject institution expires, the subject institution, in case it has been incorporated, shall be wound up and dissolved, and it shall file with the Commissioner:
(1) Copy of a certificate of election to wind up and dissolve filed with the Secretary of State pursuant to Corporations Code Section 1901, certified by the Secretary of State.
(2) Either (1) a copy of a certificate of dissolution filed with the Secretary of State pursuant to Corporations Code Section 1905, certified by the Secretary of State, or (2) a copy of an order entered by a superior court pursuant to Corporations Code Section 1907, certified by the clerk of such superior court.

Cal. Code Regs. Tit. 10, § 10.4466

1. Change without regulatory effect amending section and adding new NOTE filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 4831, Financial Code. Reference: Section 4835, Financial Code.

1. Change without regulatory effect amending section and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).