California § 4861 - Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to t
Full text of California Public Contract Code - PCC § 4861 — Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to t, with citation guidance and answers to common questions.
§ 4861. Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to t
Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued to it by the commissioner. (2) File with the commissioner any report regarding the sale that the commissioner may require. (b) In case the seller is a California state depository corporation, the seller shall wind up and dissolve. However, if the seller is a California state bank, the seller may, in the alternative and with the approval of the commissioner, change into a nonbank corporation by amending its articles and changing its name.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 4861
What does Public Contract Code - PCC § 4861 cover?
Section 4861 ("Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to t") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 4861?
A common citation format is "Public Contract Code - PCC § 4861" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 4861 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.