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California Financial Code Section 101

Legal Research Home > California Lawyer > Financial Code > California Financial Code Section 101

(a) A California state bank is a corporation incorporated
under Division 1 (commencing with Section 100) of the Corporations
Code that is, with the approval of the commissioner, incorporated for
the purpose of engaging in, or that is authorized by the
commissioner to engage in, the commercial or industrial banking
business.
   (b) All provisions of law applicable to corporations generally
(including, but not limited to, the General Corporation Law (Division
1 (commencing with Section 100), Title 1 of the Corporations Code))
shall apply to banks. However, whenever any provision of this
division or of any regulation or order issued under any provision
(other than this section) of this division applicable to banks is
inconsistent with any provision of law applicable to corporations
generally, such provision of this division or of such regulation or
order shall apply and such provision of law applicable to
corporations generally shall not apply.

Last modified: January 12, 2009