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 103.204 - Merger and Acquisition Agreements

All agreements by a domestic association involving transactions covered by this subchapter shall contain a condition requiring the prior written approval of the Savings and Loan Commissioner before such merger may be consummated. No agreement shall contain a provision providing for the payment or forfeiture of money or other consideration, except for actual expenses, in the event of the disapproval of the Savings and Loan Commissioner unless such provision has been approved in advance by the Commissioner.

1. Change without regulatory effect renumbering former Section 203.1 to Section 103.204 (Register 87, No. 14). For prior history, see Registers 77, No. 11 and 76, No. 18.

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