California Code of Regulations
Title 10 - Investment
Chapter 2 - Savings and Loan Commissioner
Subchapter 3 - Applications and Hearings
Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations
Section 103.202 - Merger Requirements

Universal Citation: 10 CA Code of Regs 103.202

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) A merger will not ordinarily be approved if any of the constituent associations have been incorporated for less than three years.

(b) The surviving association, after giving effect to the merger, shall possess a net worth which is not less than an amount to be determined by the commissioner after consideration of the facts in each case.

1. Change without regulatory effect renumbering former Section 202 to Section 103.202 (Register 87, No. 14). For prior history, see Register 77, No. 11.

Note: Authority cited: Section 5255, Financial Code. Reference: Sections 9200- 9218, Financial Code.

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