California Corporations Code

§ 28601

CORP § 28601 Effective Jan 1, 1999Div. 3 · Title 4 · Ch. 9

No licensee shall merge with any other company unless either of the following apply:

(a)If the licensee is to be the surviving company, the merger is first approved by the commissioner.

(b)If the licensee is to be a disappearing company, the surviving company is a licensee and the merger is first approved by the commissioner.

Legislative history

Added by Stats. 1998, Ch. 668, Sec. 3. Effective January 1, 1999. Operative July 1, 1999, by Sec. 4 of Ch. 668.