California Corporations Code

§ 28604

CORP § 28604 Effective Jan 1, 1999Div. 3 · Title 4 · Ch. 9

Statute text

The commissioner shall approve an application for approval of a merger, purchase, or sale, only if, after notice and a hearing, the commissioner finds all of the following:

(a)That the merger, purchase, or sale will be safe and sound with respect to the acquiring licensee.

(b)That it is reasonable to believe that, upon consummation of the merger, purchase, or sale, the acquiring licensee will comply with all applicable provisions of this division and of any regulation or order issued under this division.

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Legislative history

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