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HomeFinancial CodeDiv. 1.6Ch. 5Art. 1§ 4922 Conversion Articles Bylaws Approval

§ 4922 Conversion Articles Bylaws Approval

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 4922 Conversion Articles Bylaws Approval

Key Takeaways

  • •A bank changing its type must update its rules and send them to the boss (commissioner) for approval.
  • •The bank must also update its daily rules (bylaws) and get them approved before the change happens.
  • •The usual rule for changing company papers (Section 904) doesn’t apply here.

Example

A small local bank wants to become a bigger, different kind of bank.

The bank must write new rules for how it will work and send them to the commissioner. The commissioner must say 'yes' before the bank can change. Even the bank’s everyday rules need approval first.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 4922 Conversion Articles Bylaws Approval

(a) A converting depository corporation shall adopt, and shall file with the commissioner an application for approval of, such amendments to its articles as may be necessary to carry out the conversion. Section 904 of the Corporations Code shall not apply to the amendments. (b) A converting depository corporation shall adopt, and shall file with the commissioner an application for approval of, such amendments to its bylaws as may be necessary to carry out the conversion. The amendments shall not take effect until they are approved by the commissioner and the conversion becomes effective. (Amended by Stats. 1996, Ch. 1064, Sec. 524. Effective January 1, 1997. Operative July 1, 1997.)

Last verified: January 23, 2026

Key Terms

corporationarticlesbylawscommissionapplicationoperative july

Related Statutes

  • § 4924 Conversion Approval Application
  • § 4923 Shareholder Information Requirements
  • § 4930 Conversion Certificate Evidence
  • § 4944 Conversion Filing Requirements
  • § 4946 Conversion Articles Approval

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 4922.
View Official Source