California Financial Code CHAPTER 1 - Definitions

  • Section 99.
    This division, Division 1.1 (commencing with Section 1000), Division 1.2 (commencing with Section 2000), Division 1.6 (commencing with Section 4800), Division 2 (commencing with Section...
  • Section 101.
    If and to the extent that any provision of the Financial Institutions Law is preempted by federal law, the provision does not apply and shall...
  • Section 103.
    The word “bank” as used in the Financial Institutions Law means any incorporated banking institution that shall have been incorporated to engage in commercial banking...
  • Section 105.
    Banks are divided into the following classes:(a) Commercial banks.(b) Industrial banks.(c) Trust companies.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
  • Section 107.
    “Commercial bank” means a corporation organized for the purpose of engaging in the commercial banking business.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664)...
  • Section 109.
    “Commercial banking business” includes, but is not limited to, the business of soliciting, receiving, or accepting of money or its equivalent on deposit as a...
  • Section 111.
    “Industrial bank” means a corporation organized for the purpose of engaging in the industrial banking business.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664)...
  • Section 113.
    “Industrial banking business” includes the making of loans and acceptance of deposits, including deposits evidenced by investment or thrift certificates, but excluding demand deposits.(Added by...
  • Section 115.
    “Trust business” means the business of acting as executor, administrator, guardian or conservator of estates, assignee, receiver, depositary or trustee under the appointment of any...
  • Section 117.
    “Trust company” means a corporation, industrial bank, or a commercial bank that is authorized to engage in the trust business.(Added by Stats. 2011, Ch. 243,...
  • Section 119.
    “Bank” or “banks” includes commercial banks, industrial banks, and trust companies unless the context otherwise requires. However, “bank” does not include a savings association or...
  • Section 121.
    (a) “Office” includes head office, branch office, and any other authorized place of business of a licensee.(b) “Head office” means the principal place of business of a...
  • Section 123.
    “Real property” and “personal property” have the meanings defined in and shall be construed in accordance with Title 1 (commencing with Section 654) of Part...
  • Section 125.
    “Commissioner” means the Commissioner of Business Oversight and “department” means the Department of Business Oversight.(Amended by Stats. 2013, Ch. 352, Sec. 80. (AB 1317) Effective...
  • Section 127.
    “Person” means an individual, sole proprietorship, partnership, joint venture, association, trust, estate, business trust, corporation, joint stock company, limited liability company, unincorporated association, sovereign government...
  • Section 129.
    Unless the provision or the context otherwise requires, the definitions set forth in this chapter govern the construction of the Financial Institutions Law.(Amended by Stats....
  • Section 131.
    References in this division to the voting of shares shall be construed in accordance with Section 111 of the Corporations Code.(Added by Stats. 2011, Ch....
  • Section 133.
    If the articles of a bank provide for more or less than one vote for any share on any matter, the references in Sections 139...
  • Section 135.
    Any requirement in this division for a vote of each class of outstanding shares shall be construed in accordance with Section 117 of the Corporations...
  • Section 137.
    “Approved by (or approval of) the board” means approved or ratified by the vote of the board or by the vote of a committee authorized...
  • Section 139.
    “Approved by (or approval of) the outstanding shares” has the meaning set forth in Section 152 of the Corporations Code and shall include approval by...
  • Section 141.
    “Approved by (or approval of) the shareholders” has the meaning set forth in Section 153 of the Corporations Code and shall include approval or ratification...
  • Section 143.
    “Articles” has the meaning set forth in Section 154 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1,
  • Section 145.
    “Board” has the meaning set forth in Section 155 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1,
  • Section 147.
    “California” means:(a) When used with respect to a bank, in the case of a state bank, a bank that is organized under the laws of this...
  • Section 149.
    “CAMELS composite rating” shall have the meaning set forth in Section 327.8(j) of Title 12 of the Code of Federal Regulations.(Added by Stats. 2011, Ch....
  • Section 151.
    “Certificate of correction” means a certificate executed and filed with the Secretary of State pursuant to Section 109 of the Corporations Code, subject, however, to...
  • Section 153.
    “Certificate of determination” has the meaning set forth in Section 156 of the Corporations Code, subject, however, to the provisions of Section 1104.(Added by Stats....
  • Section 155.
    “Certificate of revocation” means a certificate executed and filed with the Secretary of State pursuant to the second and third sentences of subdivision (c) of...
  • Section 157.
    “Common shares” has the meaning set forth in Section 159 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January...
  • Section 159.
    (a) “Confidential information” means any information regarding a licensee contained in, or related to, any of the following:(1) Applications filed with the commissioner.(2) Examination, operating, condition, or any...
  • Section 161.
    “Constituent corporation,” when used with respect to a corporation:(a) In the case of a merger, has the meaning set forth in Section 161 of the Corporations...
  • Section 163.
    “Contributed capital” means all of shareholders’ equity other than retained earnings. However, nothing in this section shall prohibit a bank from transferring amounts from time...
  • Section 165.
    “Credit union” means a corporation of the type described in Section 14002 organized under the laws of this state or a corporation of similar type...
  • Section 167.
    “Directors” has the meaning set forth in Section 164 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1,
  • Section 169.
    “Disappearing,” when used with respect to a corporation, means a constituent corporation that is not the surviving corporation.(Added by Stats. 2011, Ch. 243, Sec. 2....
  • Section 171.
    “Distribution to its shareholders” has the meaning set forth in Section 166 of the Corporations Code. However, in Division 1 (commencing with Section 100), Title...
  • Section 173.
    (a) “Foreign,” when used with respect to a bank, an office of a bank, or any corporation other than a bank, means foreign (other nation) or...
  • Section 175.
    “Foreign nation” means any nation other than the United States, including, without limitation, any subdivision, territory, trust territory, dependency, colony, or possession of any nation...
  • Section 177.
    (a) The definition of “state of the United States” in Section 207 does not apply to this section. In this section, “state of the United States”...
  • Section 179.
    “Foreign (other state)”:(a) When used with respect to a bank, means a bank that is organized under the laws of any state of the United States...
  • Section 181.
    “Insured”:(a) When used with respect to a bank or an office of a bank, means a bank or office the deposits of which are insured by...
  • Section 183.
    “Law of the domicile” means:(a) When used with respect to a national bank, the law of the United States.(b) When used with respect to a state bank,...
  • Section 185.
    “Licensee” has the following meanings:(a) Any bank authorized by the commissioner pursuant to Section 1042 to transact banking or trust business.(b) Any industrial bank authorized by the...
  • Section 186.
    “Majority-owned subsidiary” has the meaning set forth for “subsidiary” in subdivision (a) of Section 189 of the Corporations Code.(Added by Stats. 2013, Ch. 334, Sec....
  • Section 187.
    “Member of the public” means any person, except an agent, officer, or employee of the department acting within the scope of his or her agency,...
  • Section 188.
    “Money transmitter” means a person authorized pursuant to Chapter 3 (commencing with Section 2030) of Division 1.2 to engage in the business of money transmission.(Added...
  • Section 189.
    (a) “National bank” or “national banking association” means a national banking association organized under the National Bank Act.(b) For purposes of the Financial Institutions Law, a national...
  • Section 190.
    “Officer” means:(a) When used with respect to a corporation, any person appointed or designated as an officer of the corporation by or pursuant to applicable law...
  • Section 191.
    “Officers’ certificate” has the meaning set forth in Section 173 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January...
  • Section 193.
    “Resulting,” when used with respect to a corporation, means:(a) In the case of a consolidation, the corporation into which the constituent corporations are consolidated.(b) In the case...
  • Section 195.
    “ROCA supervisory rating” shall have the meaning set forth in Section 327.8(k) of Title 12 of the Code of Federal Regulations.(Added by Stats. 2011, Ch....
  • Section 197.
    “Savings association” includes a savings association, a savings and loan association, and a savings bank. However, “savings association” does not include any savings bank of...
  • Section 199.
    “Series,” when used with respect to shares, has the meaning set forth in Section 183 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec....
  • Section 201.
    “Shares” has the meaning set forth in Section 184 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1,
  • Section 203.
    “Shareholder” has the meaning set forth in Section 185 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1,
  • Section 205.
    “State”:(a) When used with respect to a corporation, means a corporation that is organized under the laws of a state of the United States.(b) When used with...
  • Section 207.
    “State of the United States” means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam,...
  • Section 209.
    “Surviving,” when used with respect to a corporation, means a corporation in which one or more other corporations are merged.(Added by Stats. 2011, Ch. 243,...
  • Section 211.
    “Uniform Interagency Trust Rating System (UITRS)” shall have the meaning set forth in the policy statement regarding the uniform interagency trust rating system published by...
  • Section 213.
    “Uniform Rating System for Informational Technology (URSIT)” shall have the meaning set forth in the policy statement regarding the uniform rating system for information technology...
  • Section 215.
    “Vote” has the meaning set forth in Section 194 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1,
  • Section 217.
    “Voting power” has the meaning set forth in Section 194.5 of the Corporations Code.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January...

Last modified: October 22, 2018