California Financial Code

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• California Financial Code Section 1
  This act is known and may be cited as the Financial Code.
• California Financial Code Section 2
  The provisions of this code insofar as they are substantially the same as existing statutory provisions relating to the same subject matter shall be construed...
• California Financial Code Section 3
  Any action or proceeding commenced before this code takes effect, or any right accrued, is not affected by this code, but all procedure taken shall...
• California Financial Code Section 4
  Unless the context otherwise requires the general provisions hereinafter set forth govern the construction of this code.
• California Financial Code Section 5
  Division, part, chapter, article, and section headings do not in any manner affect the scope, meaning, or intent of the provisions of this code.
• California Financial Code Section 6
  Whenever a power is granted to, or a duty imposed on any person or board by any provision of this code, it may be exercised...
• California Financial Code Section 7
  Whenever any reference is made to any portion of this code or of any other law, the reference applies to all amendments and additions thereto,...
• California Financial Code Section 8
  Writing includes any form of recorded message capable of comprehension by ordinary visual means. Whenever any notice, report, statement, or record is required or authorized...
• California Financial Code Section 9
  "Section" means a section of this code unless some other statute is specifically mentioned, and "subdivision" means a subdivision of the section in which the...
• California Financial Code Section 10
  The present tense includes the past and future tenses; and the future, the present.
• California Financial Code Section 11
  The masculine gender includes the feminine and neuter.
• California Financial Code Section 12
  The singular number includes the plural and the plural the singular.
• California Financial Code Section 13
  "City" includes incorporated city, city and county, municipal corporation, municipality, town and incorporated town.
• California Financial Code Section 14
  "County" includes city and county.
• California Financial Code Section 15
  "Shall" is mandatory and "may" is permissive.
• California Financial Code Section 16
  "Oath" includes affirmation.
• California Financial Code Section 17
  "Signature" or "subscription" includes mark. The mark shall be made as required in the Civil Code.
• California Financial Code Section 18
  "Person" includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind.
• California Financial Code Section 19
  If any provision of this code, or its application to any person or circumstance, is held invalid, the remainder of the code, or the application...
• California Financial Code Section 20
  The existence of corporations formed or existing on the date this code takes effect is not affected by the enactment of this code nor by...
• California Financial Code Section 21
  All persons who, at the time this code goes into effect, hold office under any of the acts repealed by this code, which offices are...
• California Financial Code Section 22
  Notwithstanding any other provision of this code, Chapter 10 (commencing with Section 10000) of Division 2 shall be known and may be cited as the...
• California Financial Code Section 99
  This division is known and may be cited as the "Banking Law."
• California Financial Code Section 100
  This division is applicable to the following: (a) All corporations engaging in commercial banking, industrial banking, or the trust business. (b) All national banking associations...
• California Financial Code Section 100.5
  If and to the extent that any provision of this division is preempted by federal law, the provision does not apply and shall not be
• California Financial Code Section 101
  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...
• California Financial Code Section 102
  The word "bank" as used in this division means any incorporated banking institution that shall have been incorporated to engage in commercial banking business, industrial...
• California Financial Code Section 103
  Banks are divided into the following classes: (a) Commercial banks. (b) Industrial banks. (c) Trust companies.
• California Financial Code Section 105
  "Commercial bank" means a corporation organized for the purpose of engaging in the commercial banking business.
• California Financial Code Section 105.2
  "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...
• California Financial Code Section 105.5
  "Industrial bank" means a corporation organized for the purpose of engaging in the industrial banking business.
• California Financial Code Section 105.7
  "Industrial banking business" includes the making of loans and acceptance of deposits, including deposits evidenced by investment or thrift certificates, but excluding demand deposits.
• California Financial Code Section 106
  "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...
• California Financial Code Section 107
  "Trust company" means a corporation, industrial bank, or a commercial bank that is authorized to engage in the trust business.
• California Financial Code Section 107.5
  It shall be unlawful for any person, corporation, limited liability company, partnership, firm, or any other form of business entity allowed by law, to engage...
• California Financial Code Section 109
  "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...
• California Financial Code Section 110
  "Office" includes head office, branch office, and any other authorized place of business of a bank. "Head office" means the principal place of business of...
• California Financial Code Section 111
  "Real property" and "personal property" have the meanings defined in and shall be construed in accordance with Title 1, Part 1, Division 2, Civil Code...
• California Financial Code Section 112
  "Commissioner" means the Commissioner of Financial Institutions and "department" means the Department of Financial Institutions.
• California Financial Code Section 113
  "Person" means an individual, sole proprietorship, partnership, joint venture, association, trust, estate, business trust, corporation, limited liability company, sovereign government or agency, instrumentality, or political...
• California Financial Code Section 115
  Unless the provision or the context otherwise requires, the definitions set forth in this chapter govern the construction of this division.
• California Financial Code Section 116
  No corporation shall hereafter be organized under the laws of this state to transact the business of a commercial bank, industrial bank, or trust company...
• California Financial Code Section 117
  Neither the enactment of this code nor the amendment or repeal thereof nor the repeal of any statute affected thereby shall take away or impair...
• California Financial Code Section 118
  (a) All references in this division and in Division 1 (commencing with Section 100), Title 1 of the Corporations Code to financial statements, balance sheets,...
• California Financial Code Section 119
  References in this division to the voting of shares shall be construed in accordance with Section 111 of the Corporations Code.
• California Financial Code Section 120
  If the articles of a bank provide for more or less than one vote for any share on any matter, the references in Sections 123...
• California Financial Code Section 121
  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
• California Financial Code Section 122
  "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...
• California Financial Code Section 123
  "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...
• California Financial Code Section 124
  "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...
• California Financial Code Section 125
  "Articles" has the meaning set forth in Section 154 of the Corporations Code.
• California Financial Code Section 126
  "Board" has the meaning set forth in Section 155 of the Corporations Code.
• California Financial Code Section 126.5
  "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...
• California Financial Code Section 127
  "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...
• California Financial Code Section 128
  "Certificate of determination" has the meaning set forth in Section 156 of the Corporations Code, subject, however, to the provisions of Section 600.8.
• California Financial Code Section 129
  "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...
• California Financial Code Section 130
  "Common shares" has the meaning set forth in Section 159 of the Corporations Code.
• California Financial Code Section 132
  "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...
• California Financial Code Section 134
  "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...
• California Financial Code Section 134.5
  "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...
• California Financial Code Section 135
  "Directors" has the meaning set forth in Section 164 of the Corporations Code.
• California Financial Code Section 137
  "Disappearing," when used with respect to a corporation, means a constituent corporation that is not the surviving corporation.
• California Financial Code Section 139
  "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...
• California Financial Code Section 139.2
  (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)...
• California Financial Code Section 139.3
  "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...
• California Financial Code Section 139.4
  (a) The definition of "state of the United States" in Section 146.7 does not apply to this section. In this section, "state of the United...
• California Financial Code Section 139.5
  "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...
• California Financial Code Section 139.7
  "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...
• California Financial Code Section 139.9
  "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...
• California Financial Code Section 140
  "Majority-owned subsidiary" has the meaning set forth for "subsidiary" in subdivision (a) of Section 189 of the Corporations Code.
• California Financial Code Section 140.3
  (a) "National bank" or "national banking association" means a national banking association organized under the National Bank Act. (b) For purposes of this division, a...
• California Financial Code Section 140.5
  "Officers' certificate" has the meaning set forth in Section 173 of the Corporations Code.
• California Financial Code Section 142
  "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....
• California Financial Code Section 143
  "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...
• California Financial Code Section 144
  "Series," when used with respect to shares, has the meaning set forth in Section 183 of the Corporations Code.
• California Financial Code Section 145
  "Shares" has the meaning set forth in Section 184 of the Corporations Code.
• California Financial Code Section 146
  "Shareholder" has the meaning set forth in Section 185 of the Corporations Code.
• California Financial Code Section 146.3
  "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....
• California Financial Code Section 146.7
  "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,...
• California Financial Code Section 148
  "Surviving," when used with respect to a corporation, means a corporation in which one or more other corporations are merged.
• California Financial Code Section 150
  "Vote" has the meaning set forth in Section 194 of the Corporations Code.
• California Financial Code Section 151
  "Voting power" has the meaning set forth in Section 194.5 of the Corporations Code.
• California Financial Code Section 180
  In this chapter, unless the provision or context requires otherwise: (a) "New General Corporation Law" means Division 1 (commencing with Section 100), Title 1 of...
• California Financial Code Section 181
  For purposes of Chapter 23 (commencing with Section 2300) of the new General Corporation Law, in the case of any subject institution existing on January...
• California Financial Code Section 182
  (a) Sections 600 and 600.2 of the revised Banking Law shall not apply to any subject institution existing on January 1, 1979, unless and until...
• California Financial Code Section 184
  In case the board of a subject institution has, prior to January 1, 1979, adopted a resolution levying an assessment on the common shares of...
• California Financial Code Section 185
  Article 3 (commencing with Section 640), Chapter 5 of the revised Banking Law applies to any distribution to its shareholders made after January 1, 1979,...
• California Financial Code Section 200
  (a) In this section: (1) "Business and industrial development corporation" means a corporation licensed under Division 15 (commencing with Section 31000). (2) "Payment instrument" has...
• California Financial Code Section 210
  The chief officer of the Department of Financial Institutions is the Commissioner of Financial Institutions. The Commissioner of Financial Institutions is the head of the...
• California Financial Code Section 210.5
  As of the operative date of this section: (a) In this section, "order" means any approval, consent, authorization, exemption, denial, prohibition, requirement, or other administrative...
• California Financial Code Section 211
  The commissioner is appointed by the Governor, and holds office at the pleasure of the Governor. The appointment of the commissioner is subject to confirmation...
• California Financial Code Section 212
  The commissioner shall be a citizen of the United States and a resident of the state for at least three years prior to his or...
• California Financial Code Section 213
  The annual salary of the commissioner is provided for by Chapter 6 (commencing with Section 11550) of Part 1 of Division 3 of Title 2...
• California Financial Code Section 214
  Before entering upon the duties of his or her office, the commissioner shall take and subscribe to the constitutional oath of office and file the...
• California Financial Code Section 215
  The commissioner is responsible for the performance of all duties, the exercise of all powers and jurisdiction, and the assumption and discharge of all responsibilities...
• California Financial Code Section 215.5
  (a) The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage Product Risks issued in September 2006 and the Statement on Subprime Mortgage Lending issued...
• California Financial Code Section 216
  (a) The commissioner may make the agreements that he or she deems necessary or appropriate in exercising his or her powers. (b) (1) The agreements...
• California Financial Code Section 216.3
  (a) For purposes of this section, the following definitions apply: (1) "Applicable law" means: (A) With respect to any bank, Division 1.5 (commencing with Section...
• California Financial Code Section 217
  The authority vested in the Superintendent of Banks under subdivision (2) of Section 1 of Article XV of the California Constitution is delegated to the
• California Financial Code Section 230
  The commissioner shall appoint a chief deputy who holds office at the pleasure of the commissioner. The annual salary of the chief deputy shall be...
• California Financial Code Section 231
  The commissioner may employ deputies in addition to the chief deputy, and examiners, appraisers, technical assistants, investigators, administrative assistants, clerks, and other employees that he...
• California Financial Code Section 232
  Before entering upon the duties of his office each deputy and examiner shall take and subscribe to the constitutional oath of office and file the...
• California Financial Code Section 233
  The commissioner may require, at any time, of any deputy, examiner, or other employee of the department, an official bond in such amount as the...
• California Financial Code Section 234
  Neither the commissioner nor any deputy or employee of the department shall do or be any of the following with respect to any bank, savings...
• California Financial Code Section 235
  If the commissioner is unable to perform his or her duties for more than 30 consecutive days or if the office of the commissioner becomes...
• California Financial Code Section 250
  The commissioner shall have his or her principal office in the City and County of San Francisco and may also have an office in the...
• California Financial Code Section 251
  The department may expend moneys in accordance with law for the necessary travel expenses of officers and employees of the department while traveling in the...
• California Financial Code Section 252
  The commissioner shall adopt and keep an official seal. Papers executed by the commissioner in his or her official capacity pursuant to law and bearing...
• California Financial Code Section 253
  (a) Whenever it is necessary for the commissioner to approve any instrument and to affix his or her official seal thereto, the commissioner shall charge...
• California Financial Code Section 255
  Official reports made by the commissioner and verified reports of an examination made by the commissioner, exclusively or in conjunction with or with assistance from...
• California Financial Code Section 258
  At least once each month, the commissioner shall issue and disseminate as the commissioner deems appropriate a bulletin containing the following information: (a) Information regarding...
• California Financial Code Section 259
  Notwithstanding any other provision of this code, whenever any provision of this division requires the pledge of securities to be deposited with the Treasurer, to...
• California Financial Code Section 260
  Whenever the commissioner is notified of or discovers a violation of the state law punishable by criminal penalties, he or she shall promptly advise the...
• California Financial Code Section 261
  (a) For the purposes of this section the following definitions shall apply: (1) "Control" has the meaning set forth in subdivision (b) of Section 700....
• California Financial Code Section 262
  (a) The commissioner shall inform the Commissioner of Corporations and other appropriate state and federal officials charged with the regulation of financial institutions or securities...
• California Financial Code Section 263
  Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code does not apply to hearings conducted...
• California Financial Code Section 265
  As of the operative date of this section, there is established a Financial Institutions Fund in the State Treasury. Except as otherwise provided in Division...
• California Financial Code Section 270
  (a) The commissioner shall annually collect pro rata from the banks and trust companies under the supervision of the department a fund in amount sufficient...
• California Financial Code Section 271
  The commissioner shall annually collect from national banking associations and foreign (other state) banks operating trust departments in this state an annual assessment to meet...
• California Financial Code Section 271.5
  Whenever the commissioner makes an assessment pursuant to Section 270 or 271, the commissioner shall fix the date when the assessment is due and payable...
• California Financial Code Section 272
  The commissioner, in addition to the annual assessment, shall collect from each bank authorized to engage in the trust business, to defray the cost of...
• California Financial Code Section 273
  If any bank or trust company fails to make timely payment of any assessment made pursuant to Section 270, 271, or 272, the commissioner may,...
• California Financial Code Section 273.5
  As of the operative date of this section: (a) The State Banking Fund is converted into a separate account in the Financial Institutions Fund and...
• California Financial Code Section 274
  Except as otherwise provided in Section 276 or 277, all salaries and other expenses of the department, other than those incurred in administering laws relating...
• California Financial Code Section 275
  The commissioner shall deliver all moneys received or collected by the commissioner under Section 270, 271, or 272 or otherwise, other than moneys received or...
• California Financial Code Section 276
  (a) In this section, "assessment statute" means any statute that authorizes the commissioner to make or collect an assessment (other than a fine) on financial...
• California Financial Code Section 277
  Notwithstanding any other provision of this code or of Section 53667 of the Government Code, the commissioner may, at any time during a fiscal year,...
• California Financial Code Section 350
  When authorized by the commissioner as provided in this chapter a corporation may be formed by one or more persons in accordance with the laws...
• California Financial Code Section 351
  No bank shall be a close corporation (as defined in Section 158 of the Corporations Code).
• California Financial Code Section 360
  The request for authority to organize and establish a corporation to engage in the banking or trust business shall be set forth in an application...
• California Financial Code Section 360.5
  Upon receiving a request for an application, the commissioner shall inform the prospective applicant in writing that the commissioner is available to confer with such...
• California Financial Code Section 361
  Upon the filing of an application the commissioner shall make or cause to be made a careful investigation and examination relative to the following: (a)...
• California Financial Code Section 362
  The commissioner may give or withhold his or her approval of the application in his or her discretion, but he or she shall not approve...
• California Financial Code Section 362.5
  (a) In this section: (1) "Control" has the meaning set forth in Section 700. (2) "Officer" has the meaning set forth in Section 33057. (b)...
• California Financial Code Section 363
  At least 30 days before denying an application, the commissioner shall by mail or other method of service give written notice of the intended denial...
• California Financial Code Section 399
  In this article: (a) "Preopening expenditure" means any obligation incurred, or sum disbursed, by a bank prior to the time when it commences to transact...
• California Financial Code Section 400
  The articles of incorporation of the proposed bank or trust company shall be submitted to the commissioner for his or her approval before they are...
• California Financial Code Section 401
  If the commissioner finds that the proposed bank or trust company has in good faith complied with all the requirements of law and fulfilled all...
• California Financial Code Section 402
  It shall be unlawful to accept payment of subscriptions for shares of any corporation proposing to engage in the banking or trust business unless authority...
• California Financial Code Section 403
  No corporation organized to transact a commercial banking or trust business shall transact any business until the commissioner has issued his or her certificate authorizing...
• California Financial Code Section 404
  If the proposed bank or trust company fails to file evidence of incorporation and organization with the commissioner pursuant to Section 400 within one year...
• California Financial Code Section 405
  If the proposed bank or trust company fails to open for business within 90 days after the issuance of the certificate of authorization, the right...
• California Financial Code Section 406
  It is unlawful to apply any part of the funds collected from subscribers or shareholders to the payment of commissions or fees for obtaining subscriptions...
• California Financial Code Section 407
  Every bank and trust company shall keep posted in a conspicuous place in its banking room at its head office the certificate of authority to...
• California Financial Code Section 419
  A California state bank shall maintain its head office in this state.
• California Financial Code Section 420
  A bank or trust company may change the location of its head office within this state with the written approval of the commissioner. An application...
• California Financial Code Section 421
  (a) As used in this section: (1) "Branch office" has the meaning set forth in subdivision (a) of Section 500. (2) "Redesignation of the head...
• California Financial Code Section 490
  (a) In issuing an exemption under this section, the commissioner may impose any conditions that the commissioner finds necessary or appropriate. (b) The commissioner may,...
• California Financial Code Section 500
  (a) In this article, "branch office" means any branch office other than an automated teller machine branch office as defined in Section 550 or a...
• California Financial Code Section 501
  The request for authority to establish a branch office shall be set forth in an application in such form and containing such information as the...
• California Financial Code Section 503
  In determining whether to approve or disapprove an application by a bank for authority to establish a branch office, the commissioner shall consider all of...
• California Financial Code Section 504
  When the commissioner has approved an application for permission to establish a branch office, the commissioner shall issue a certificate in duplicate authorizing the opening...
• California Financial Code Section 505
  The failure of a bank or trust company to open and operate a branch office within one year after the commissioner approves the application therefor...
• California Financial Code Section 506
  A bank or trust company which opens a branch office without first obtaining the approval of the commissioner shall be subject to a civil penalty...
• California Financial Code Section 507
  When authorized by the commissioner a bank or trust company may change the location of a branch office from one location to another in the...
• California Financial Code Section 509
  A bank or trust company which maintains a branch office or branch offices shall give to each branch office maintained by it a specific designation...
• California Financial Code Section 510
  (a) A bank or trust company may close or discontinue the operation of any branch office if, before the closing or discontinuance, (1) the bank...
• California Financial Code Section 511
  A bank may arrange for the collection of savings from school children by the principal of the school, by the teachers, or by collectors, pursuant...
• California Financial Code Section 512
  With the approval of the commissioner and subject to any regulations that the commissioner may prescribe, a bank may transact at a foreign (other state)...
• California Financial Code Section 540
  As used in this article, "place of business" means any place of business of a bank other than a head office, a branch office, or...
• California Financial Code Section 541
  No bank shall establish or maintain a place of business unless it is authorized to do so by the commissioner.
• California Financial Code Section 542
  An application for authority to establish and maintain a place of business shall be in such form and contain such information as the commissioner may...
• California Financial Code Section 543
  The commissioner may give or withhold approval of an application in his or her discretion, but he or she shall not approve the application until...
• California Financial Code Section 544
  When the commissioner has approved an application, the commissioner shall issue a certificate in duplicate authorizing the bank to establish and maintain the place of...
• California Financial Code Section 545
  The approval of an application to establish and maintain a place of business shall be revoked by operation of law if the applicant bank does...
• California Financial Code Section 546
  With the prior written approval of the commissioner, a bank may change the location of a place of business from one location to another in...
• California Financial Code Section 547
  (a) A bank may close or discontinue the operation of a place of business provided it files a notice with the commissioner, containing the information...
• California Financial Code Section 550
  In this article, unless the context otherwise requires: (a) "Automated teller machine" means any electronic information processing device used by a financial institution and its...
• California Financial Code Section 551
  Except as the commissioner may otherwise order, a bank is not required to file any notice with, or to obtain any approval or certificate of...
• California Financial Code Section 559
  Subject to applicable laws and regulations, a bank is permitted but not required to share its automated teller machine branch offices with one or more...
• California Financial Code Section 560
  In this article, unless the context otherwise requires: (a) "Automated teller machine" has the meaning set forth in subdivision (a) of Section 550. (b) "Bank"...
• California Financial Code Section 561
  A bank may use automated teller machines established or operated by another person, provided that the bank complies with the following requirements: (a) In case...
• California Financial Code Section 600
  The articles of each bank shall contain the applicable one of the following statements: (a) In case the bank is, or is proposed to be,...
• California Financial Code Section 600.3
  (a) In this section: (1) "Assessment provision" means the provision in the articles of a bank that complies with the requirements of Section 600.2, as...
• California Financial Code Section 600.4
  (a) No amendment of the articles of a bank (other than an amendment set forth in an agreement of merger or in a certificate of...
• California Financial Code Section 600.6
  No restated articles of a bank shall become effective unless the certificate setting forth such restated articles is filed with the Secretary of State with...
• California Financial Code Section 600.8
  No certificate of determination of a bank shall become effective unless such certificate of determination is filed with the Secretary of State with the commissioner's...
• California Financial Code Section 600.10
  No certificate of correction of a bank shall become effective unless such certificate of correction is filed with the Secretary of State with the commissioner's...
• California Financial Code Section 600.12
  No certificate of revocation of a bank shall become effective unless such certificate of revocation is filed with the Secretary of State with the commissioner's...
• California Financial Code Section 602
  (a) A bank may change its name if it files with the commissioner a report on the proposed change not less than 30 days before...
• California Financial Code Section 620
  A bank may, with the approval of its board, determine and from time to time redetermine the par value of any class or series of...
• California Financial Code Section 621
  No bank or trust company after October 1, 1949, shall issue any shares before they are fully paid for.
• California Financial Code Section 622
  No bank shall issue any shares in consideration of: (a) Services rendered in the organization of such bank; or (b) Any note (whether or not...
• California Financial Code Section 640
  This article does not apply to any distribution made to the shareholders of a bank in any proceeding to wind up and dissolve or to...
• California Financial Code Section 641
  Section 500 of the Corporations Code does not apply to the making by a bank or by any majority-owned subsidiary of a bank of any...
• California Financial Code Section 642
  Neither a bank nor any majority-owned subsidiary of a bank shall make any distribution to the shareholders of such bank in an amount which exceeds...
• California Financial Code Section 643
  Notwithstanding the provisions of Section 642, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a...
• California Financial Code Section 644
  Notwithstanding the provisions of Section 642, a bank may: (a) With the prior approval of the commissioner, make a distribution to its shareholders by means...
• California Financial Code Section 645
  If the commissioner finds that the shareholders' equity of a bank is not adequate or that the making by a bank or by any majority-owned...
• California Financial Code Section 646
  (a) For purposes of Section 506 of the Corporations Code, the making by a bank or by any majority-owned subsidiary of a bank of a...
• California Financial Code Section 660
  In determining for purposes of this division whether the shareholders' equity of a bank or of a proposed bank is adequate, the commissioner shall consider:...
• California Financial Code Section 661
  For purposes of any statute, regulation, or requirement of any governmental official or agency which refers to the capital (including, without limitation, stated capital, paid-in...
• California Financial Code Section 663
  A bank which has deficit retained earnings may, with the prior approval of its outstanding shares and of the commissioner, readjust its accounts in a...
• California Financial Code Section 670
  A bank at any time may, with the approval of its board, issue, sell or hypothecate its capital notes or debentures which may be payable...
• California Financial Code Section 679
  Any reference in this article to the time a notice is given or sent shall be construed in accordance with Section 118 of the Corporations
• California Financial Code Section 680
  The board of a bank or trust company hereafter organized shall consist of not less than five nor more than 25 directors, and no bank...
• California Financial Code Section 683
  The board of each bank and of each trust company shall hold a meeting not less than once each calendar quarter. Regular meetings of the...
• California Financial Code Section 684
  (a) The commissioner, whenever in his opinion such action is necessary or appropriate to carry out the purposes and provisions of this division, may call...
• California Financial Code Section 685
  The commissioner may, in the name of the people of this state, bring or intervene in an action under Section 709 of the Corporations Code...
• California Financial Code Section 686
  (a) The commissioner shall be deemed to be a party in interest within the meaning of Section 306 of the Corporations Code with respect to...
• California Financial Code Section 687
  (a) For purposes of Section 316 of the Corporations Code, to the extent that the making by a bank or by any majority-owned subsidiary of...
• California Financial Code Section 688
  (a) For purposes of Section 316 of the Corporations Code, the making of a loan or guarantee by a bank or any other extending of...
• California Financial Code Section 689
  (a) Paragraph (1) of subdivision (b) of Section 1501 of the Corporations Code does not apply to the annual report of any bank with respect...
• California Financial Code Section 690
  Unless the context otherwise requires, in this article: (a) "Offer" or "offer to sell" includes every attempt or offer to dispose of, or solicitation of...
• California Financial Code Section 691
  No bank organized under the laws of this state shall offer or sell any security issued by it unless the commissioner has issued a permit...
• California Financial Code Section 691.1
  The following transactions are exempt from Section 691: (a) (1) Any offer (but not a sale) not involving a public offering by a bank organized...
• California Financial Code Section 692
  An application for a permit shall be in such form and contain such information as the commissioner may prescribe.
• California Financial Code Section 692.1
  The commissioner shall charge and collect fees for applications filed under this article as fixed in this section. (a) The fee for a negotiating permit...
• California Financial Code Section 693
  If the commissioner finds that the proposed sale of securities is fair, just, and equitable, he or she shall issue to the applicant a permit...
• California Financial Code Section 694
  The commissioner may impose conditions in any permit issued under Section 693, requiring the deposit in escrow of securities, imposing a legend condition restricting the...
• California Financial Code Section 695
  Every permit issued pursuant to Section 693 shall recite that it is permissive only and does not constitute a recommendation or endorsement of the securities...
• California Financial Code Section 696
  The commissioner may amend, alter, suspend, or revoke any permit issued pursuant to Section 693.
• California Financial Code Section 696.5
  Whenever a bank applies for a permit to issue any security or to deliver any other consideration (whether or not such security or such transaction...
• California Financial Code Section 697
  There shall be exempted from the provisions of Section 691 any transaction or security, including, without limitation, any type or class of transactions or securities,...
• California Financial Code Section 698
  Nothing contained in this article shall affect the Corporate Securities Law of 1968, Division 1 (commencing with Section 25000) of Title 4 of the Corporations
• California Financial Code Section 700
  Unless the context otherwise requires, in this article: (a) "Bank" means a bank organized under the laws of this state. (b) "Control" means possession, direct...
• California Financial Code Section 701
  No person shall, directly or indirectly, unless the commissioner has approved such acquisition of control, do any of the following: (a) Make a tender offer...
• California Financial Code Section 701.1
  Notwithstanding any other provision of this article, except for those persons approved by the commissioner prior to September 1, 2002, and for those persons who...
• California Financial Code Section 702
  An application for approval to acquire control of a bank or a controlling person shall be in such form and contain such information as the...
• California Financial Code Section 703
  If the commissioner finds, with respect to the proposed acquisition of control of a bank or a controlling person, that any of the factors set...
• California Financial Code Section 703.5
  (a) In this section, "officer" has the meaning set forth in Section 33057. (b) For purposes of Section 703, the commissioner may find: (1) That...
• California Financial Code Section 704
  The commissioner may, in approving a proposal to acquire control of a bank or a controlling person pursuant to Section 703, impose such conditions as...
• California Financial Code Section 705
  The commissioner may, for good cause, amend, alter, suspend, or revoke any approval of a proposal to acquire control of a bank or a controlling...
• California Financial Code Section 706
  Notwithstanding any other provision of this article, any application for approval to acquire control of a bank or a controlling person which is not denied...
• California Financial Code Section 707
  (a) The commissioner, before determining whether, for purposes of this article, a person controls another person or before denying or approving an application for approval...
• California Financial Code Section 708
  There shall be exempted from the provisions of Section 701 any transaction, including, without limitation, any type or class of transactions, which the commissioner by...
• California Financial Code Section 709
  Whenever it appears to the commissioner that any person has committed or is about to commit a violation of any provision of this article or...
• California Financial Code Section 710
  No person shall be entitled to vote or to give a written consent with respect to any security acquired in contravention of any provision of...
• California Financial Code Section 711
  If any provision or clause of this article or the application thereof to any person or circumstance is held invalid, illegal, or unenforceable, such invalidity,...
• California Financial Code Section 750
  A bank or trust company may purchase, acquire, hold, or lease real property or an interest therein only as follows: (a) Such as may be...
• California Financial Code Section 751
  Any real property not held for any purpose permitted by subdivisions (a) and (e) of Section 750 shall be sold whenever the same can be...
• California Financial Code Section 751.3
  (a) The Legislature finds and declares: (1) That it is necessary to increase job opportunities in real estate development and construction and to provide additional...
• California Financial Code Section 751.7
  A commercial bank may provide real estate appraisal services and may charge a fee therefor.
• California Financial Code Section 752
  A bank or trust company may purchase, acquire, and hold not less than 75 percent of the outstanding shares of a corporation engaged exclusively in...
• California Financial Code Section 753
  (a) (1) In this section, "federal law" includes, but is not limited to, the United States Constitution, any federal statute, any federal court decision, and...
• California Financial Code Section 754
  A bank or trust company may become a member of the Federal Reserve System, may subscribe for, purchase, and hold the amounts of the capital...
• California Financial Code Section 755
  A bank may become a member of the Federal Deposit Insurance Corporation or of any successor corporation having for its purpose the insurance of deposits...
• California Financial Code Section 756
  A bank or trust company may become a member of any federal agency, membership in which is open to banking institutions, and may comply with...
• California Financial Code Section 757
  (a) A bank or trust company may engage in the business of renting safe deposit boxes and may receive personal property for safekeeping and storage...
• California Financial Code Section 758
  With the prior written consent of the commissioner, a bank or trust company may purchase and hold not less than 75 percent of the outstanding...
• California Financial Code Section 759
  With the prior written consent of the commissioner, a bank may purchase and hold the whole or any part of the stock of not more...
• California Financial Code Section 760.1
  A bank may invest in shares of the stock of one or more corporations which are engaged primarily in civic, public, or social welfare activities....
• California Financial Code Section 761
  No bank shall purchase, acquire, or hold the stock of any corporation except as expressly authorized by this division, or pursuant to a plan of...
• California Financial Code Section 761.5
  (a) In this section: (1) "Depository institution" has the meaning set forth in Section 3(c) of the Federal Deposit Insurance Act (12 U.S.C. Sec. 1813(c))....
• California Financial Code Section 762
  A bank or trust company may acquire stock in settlement or reduction of a loan or in exchange for an investment previously made in good...
• California Financial Code Section 763
  The amount of funds of a bank or trust company which are deposited in any other financial institution (except a Federal Reserve bank) shall not...
• California Financial Code Section 764
  Any court having jurisdiction of any estate in process of administration or of any other proceeding, on application of any person interested therein and after...
• California Financial Code Section 765
  When the court has ordered the deposit of money or assets of an estate with a bank or trust company pursuant to Section 764 or...
• California Financial Code Section 766
  For the purpose of determining whether any loan or investment is secured by a first lien on real property as required by any provision of...
• California Financial Code Section 768
  No loan made by any bank in excess of any limitations contained in this division or which is made in violation of any of the...
• California Financial Code Section 769
  A bank may purchase and hold the stock of small business investment companies authorized to operate under the Small Business Investment Act, as amended, in...
• California Financial Code Section 771
  Two or more banks may invest in the stock of a corporation engaged exclusively in the business of performing for one or more banks such...
• California Financial Code Section 772
  Notwithstanding the provisions of Section 1335, except as provided in Section 1336, and subject to regulations and rules the commissioner may prescribe, a bank may...
• California Financial Code Section 773
  Subject to such regulations and rules as the superintendent may prescribe, a bank may issue and sell securities which are guaranteed pursuant to Section 306(g)...
• California Financial Code Section 774
  Subject to such regulations and rules as the commissioner may prescribe, a bank may acquire and hold shares of stock issued by a corporation authorized...
• California Financial Code Section 775
  Notwithstanding any other provision of law, any commercial bank (as defined in Section 105) and any trust company (as defined in Section 107) holding securities...
• California Financial Code Section 775.1
  Notwithstanding any other provision of law, any commercial bank (as defined in Section 105) and any trust company (as defined in Section 107) holding securities...
• California Financial Code Section 776
  (a) Every bank and branch shall conduct all of its business in one building or in adjoining buildings except that under special circumstances a bank...
• California Financial Code Section 777
  A commercial bank may provide management consulting advice and services and may charge a fee therefor.
• California Financial Code Section 777.5
  (a) Notwithstanding the provisions of Sections 1051, 1052, and 1054 of the Labor Code and Section 2947 of the Penal Code, a bank or any...
• California Financial Code Section 778
  (a) A commercial bank may provide electronic data-processing services and may charge a fee therefor. (b) As used in this section, "electronic data-processing" means the...
• California Financial Code Section 779
  (a) Notwithstanding Section 726 of the Code of Civil Procedure or any other provision of law to the contrary, a state or nationally chartered bank,...
• California Financial Code Section 782
  Notwithstanding Section 1335, a bank may invest in shares of an investment company (1) registered with the Securities and Exchange Commission pursuant to the federal...
• California Financial Code Section 800
  In this chapter, unless the context otherwise requires: (a) "Authorized agency activities" means receiving deposits, renewing time deposits, closing loans, servicing loans, and receiving payments...
• California Financial Code Section 801
  This chapter does not apply to a California state bank having an insured depository institution engage in authorized agency activities as its agent or to...
• California Financial Code Section 802
  (a) In this section, "affiliated," when used with respect to a California state bank and an insured depository institution, means that the California state bank...
• California Financial Code Section 810
  Notwithstanding the provisions of Chapter 4 (commencing with Section 500) and Section 776, a California state bank may, with the prior approval of the commissioner...
• California Financial Code Section 811
  An application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent shall be...
• California Financial Code Section 812
  An application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent shall be...
• California Financial Code Section 813
  In determining whether to approve or deny an application by a California state bank for approval to have an insured depository institution engage in authorized...
• California Financial Code Section 814
  No California state bank may have an insured depository institution conduct as its agent any activity that the California state bank is prohibited from conducting
• California Financial Code Section 815
  No office of an insured depository institution that is performing authorized agency activities as agent for a California state bank in accordance with this article...
• California Financial Code Section 816
  If the commissioner finds that any activity performed by an insured depository institution as agent for a California state bank is not an authorized agency...
• California Financial Code Section 820
  Notwithstanding the provisions of Chapter 4 (commencing with Section 500) and Section 776, a California state bank may, with the prior approval of the commissioner...
• California Financial Code Section 821
  An application by a California state bank for approval to engage in authorized agency activities as agent for an insured depository institution shall be in...
• California Financial Code Section 822
  An application by a California state bank for approval to engage in authorized agency activities as agent for an insured depository institution shall be accompanied...
• California Financial Code Section 823
  In determining whether to approve or deny an application by a California state bank for approval to engage in authorized agency activities as agent for...
• California Financial Code Section 824
  No California state bank may conduct any activity as an agent for an insured depository institution that the California state bank would be prohibited from...
• California Financial Code Section 825
  (a) No office of a California state bank that conducts authorized agency activities as agent for an insured depository institution in accordance with this article...
• California Financial Code Section 826
  If the commissioner finds that any activities performed by a California state bank as agent for an insured depository institution are not authorized agency activities...
• California Financial Code Section 850
  A bank account by or in the name of a minor shall be held for the exclusive right and benefit of such minor and shall...
• California Financial Code Section 851
  A bank account by or in the name of a married person shall be held for the exclusive right and benefit of the person, shall...
• California Financial Code Section 852
  A bank account that is a multiple-party account as defined in Section 5132 of the Probate Code is governed by Part 2 (commencing with Section...
• California Financial Code Section 854
  No bank, directly or indirectly, by any device whatever, shall pay any interest on any demand deposit except to the extent that the payment of...
• California Financial Code Section 854.1
  Notwithstanding Section 10145 of the Business and Professions Code or any other provision of law, but subject to the limitations of Section 854, benefits accruing...
• California Financial Code Section 854.2
  (a) Notwithstanding Section 10145 of the Business and Professions Code or any other provision of law, benefits accruing from the placement in an interest bearing...
• California Financial Code Section 857
  (a) In this section: (1) "Creditor" includes, but is not limited to, a depositor. (2) "Insolvency," when used with respect to a bank, means that...
• California Financial Code Section 858
  An overdraft of more than 90 days standing shall not be allowed as an asset of any bank.
• California Financial Code Section 860
  A bank may act as a depositary, paying agent, trustee, or fiscal agent for the holding or handling of public funds or securities notwithstanding the...
• California Financial Code Section 861
  When a statement of account has been rendered by a bank to a depositor accompanied by vouchers, if any, which are the basis for debit...
• California Financial Code Section 863
  (a) No bank shall impose any charge on a savings account or on a depositor for the failure of a depositor to deposit, or for...
• California Financial Code Section 864
  (a) For the purposes of this section: (1) "Customer" means one or more natural persons. (2) "Debt" means an interest-bearing obligation or an obligation which...
• California Financial Code Section 866
  As used in this article: (a) "Depository institution" means any of the following: (1) Any insured bank as defined in Section 3 of the Federal...
• California Financial Code Section 866.2
  (a) Prior to opening a deposit account a depository institution shall provide a written disclosure to the potential customer of its general policy with respect...
• California Financial Code Section 866.3
  For the purposes of computing the amount of interest or dividends payable with respect to an interest-bearing deposit account, a depository institution shall not delay...
• California Financial Code Section 866.4
  Except as otherwise provided in this section, any depository institution which fails to comply with any requirement imposed pursuant to this article shall be liable...
• California Financial Code Section 866.5
  The commissioner shall issue administrative regulations to define a reasonable time for permitting customers to draw on items received for deposit in the customer's account....
• California Financial Code Section 866.6
  Pursuant to Section 866.5, the commissioner shall promulgate regulations which shall be reviewed annually to establish a reasonable period of time within which a depository...
• California Financial Code Section 866.7
  The commissioner is authorized to gather from depository institutions such information as may be necessary for the formulation and promulgation of the regulations required by...
• California Financial Code Section 866.8
  The first regulations issued pursuant to this article shall be issued on or before July 1, 1984.
• California Financial Code Section 866.9
  The commissioner is authorized to issue regulations which provide for a different period of time for withdrawal as a matter of right against deposited items,...
• California Financial Code Section 867
  (a) Funds deposited in an account at a depository institution shall be available on the second business day after the business day on which those...
• California Financial Code Section 874
  Any bank which delivers or has heretofore delivered to the State Treasurer pursuant to law any unclaimed or abandoned deposit shall not thereafter be liable...
• California Financial Code Section 952
  Notice to any bank of an adverse claim (the person making the adverse claim being hereinafter called "adverse claimant") to a deposit standing on its...
• California Financial Code Section 953
  When the depositor of a commercial or savings account has authorized any person to make withdrawals from the account, the bank, in the absence of...
• California Financial Code Section 954
  A bank need not recognize or give any effect to (1) any claim to a deposit of cash or securities standing on its books to...
• California Financial Code Section 970
  Whenever a bank certifies a check, the amount thereof shall be immediately charged against the account of the drawer.
• California Financial Code Section 971
  It shall be unlawful for any officer or employee of a bank to certify any check drawn upon such bank, unless the drawer has on...
• California Financial Code Section 1000
  As used in this chapter, unless the context requires otherwise, the following terms have the following meanings: (a) "Net direct debt" of any public corporation...
• California Financial Code Section 1001
  Any securities or other assets that are described in Sections 1003 to 1018, inclusive, are legal investments for savings banks.
• California Financial Code Section 1002
  Where any laws of this state provide that the moneys of any pension fund, retirement plan, trust fund, or the moneys of any special fund...
• California Financial Code Section 1003
  Gold and silver bullion and United States mint certificates of ascertained value.
• California Financial Code Section 1004
  Stock of a federal reserve bank or of a federal home loan bank to the extent authorized by Section 754.
• California Financial Code Section 1005
  Bonds or other interest-bearing notes and obligations of the United States and those for which the faith and credit of the United States are pledged...
• California Financial Code Section 1006
  Bonds of the State of California and those for which the faith and credit of the State of California are pledged for the payment of...
• California Financial Code Section 1007
  Bonds of any flood control and water conservation districts, or any zone thereof, having an assessed valuation on taxable real property of not less than...
• California Financial Code Section 1008
  Bonds of any other political subdivision, public corporation, or district of the State of California (herein referred to generally as public corporations) having the power,...
• California Financial Code Section 1009
  (a) Any of the following subject to the conditions set forth in subdivision (b) to (d), inclusive. (1) Bonds or other evidences of indebtedness of,...
• California Financial Code Section 1010
  Bonds of any irrigation district, water storage district, water conservation district, county water district, reclamation district, drainage district, and any district the primary function of...
• California Financial Code Section 1011
  (a) Bonds, consolidated bonds, collateral trust debentures, consolidated debentures, or other obligations issued by federal land banks or federal intermediate credit banks established under the...
• California Financial Code Section 1012
  Bonds, notes or other obligations issued by the Federal Financing Bank, the United States Postal Service, or issued or assumed by the International Bank for...
• California Financial Code Section 1013
  (a) Notes with a maturity not exceeding 15 months after the date of issue, issued in anticipation of uncollected taxes, income, revenue, cash receipts, and...
• California Financial Code Section 1014
  Revenue securities of any state of the United States, or of the Commonwealth of Puerto Rico, and of any city, county, city and county, political...
• California Financial Code Section 1015
  Bonds of any local public housing agency (as defined in the United States Housing Act of 1937, as amended) that are secured by either of...
• California Financial Code Section 1015.5
  Bonds secured by an insurance commitment of the Federal Housing Administration.
• California Financial Code Section 1016
  Evidences of indebtedness of companies incorporated in the United States and, directly or indirectly, engaged in manufacturing, extraction, merchandising, or commercial financing and in bonds...
• California Financial Code Section 1017
  Fixed interest railroad bonds meeting the requirements of subdivisions (a) and (b); bonds secured by a mortgage on jointly operated railroad facilities meeting the requirements...
• California Financial Code Section 1018
  Bonds and debentures of gas, electric, or gas and electric companies meeting the requirements of subdivision (a); bonds and debentures of telephone companies meeting the...
• California Financial Code Section 1200
  A commercial bank shall not rediscount, borrow money, or hypothecate its assets as security for money borrowed except to the extent and upon the conditions...
• California Financial Code Section 1201
  Assets hypothecated by a commercial bank as security for moneys borrowed shall not exceed in value the amount borrowed by more than 50 percent except...
• California Financial Code Section 1202
  A commercial bank may borrow money by discounting or otherwise, and may borrow money secured by real property owned by the bank, to an amount...
• California Financial Code Section 1203
  A commercial bank may hypothecate its assets in any manner provided by law to secure the deposits of moneys of the United States, of postal...
• California Financial Code Section 1204
  A commercial bank may borrow for the purpose of buying from the United States, United States bonds, United States Treasury certificates, or notes or other...
• California Financial Code Section 1205
  A commercial bank may rediscount with, borrow money from, or hypothecate its assets as security for money borrowed from a Federal Reserve bank, the Federal...
• California Financial Code Section 1206
  A commercial bank may issue negotiable certificates of deposit transferable by endorsement and delivery and nonnegotiable certificates transferable only on the books of the bank.
• California Financial Code Section 1208
  A commercial bank located in a place the population of which does not exceed 5,000 persons according to the most recent official federal or state...
• California Financial Code Section 1220
  For the purpose of this article: (a) "Obligations" means the total sums for the payment of which a person is obligated, primarily or secondarily, to...
• California Financial Code Section 1221
  The obligations, as defined in Section 1220, excepting the obligations described in Section 1226 and the obligations described in Section 1224, of any one person...
• California Financial Code Section 1223
  An obligation shall not be deemed secured by personal property or collateral unless the personal property or collateral held as security is of a kind...
• California Financial Code Section 1224
  (a) In addition to the limitations contained in Section 1221 a commercial bank may issue letters of credit and a commercial bank may accept drafts...
• California Financial Code Section 1225
  With the approval of the commissioner a commercial bank may accept drafts or bills of exchange drawn upon it having not more than three months'...
• California Financial Code Section 1226
  The limitations of Section 1221 shall not apply to the following and the following shall not be included among the obligations of a person for...
• California Financial Code Section 1227
  A commercial bank may lend on the security of a first lien on real property or a first lien on a leasehold under a lease...
• California Financial Code Section 1227.2
  (a) The provisions of any deed of trust or mortgage on real property which authorize any state or nationally chartered bank to accelerate the maturity...
• California Financial Code Section 1227.3
  The provisions of any deed of trust or mortgage on real property which authorize any state or nationally chartered bank to receive and control the...
• California Financial Code Section 1228
  A commercial bank may lend on the security of a first lien on real property or a first lien on a leasehold under a lease...
• California Financial Code Section 1229
  A commercial bank shall not lend in the aggregate more than 5 percent of its assets upon the security of the stock of any one...
• California Financial Code Section 1231
  No loan shall be made by any commercial bank upon the securities of one or more corporations, the payment of which loan is undertaken, in...
• California Financial Code Section 1232
  A commercial bank shall not make a loan upon the capital stock of any other bank unless such bank has been in existence at least...
• California Financial Code Section 1234
  Nothing in this chapter restricts a commercial bank in taking any lien on or pledge of any property as additional security for a loan already...
• California Financial Code Section 1235
  A commercial bank holding a first lien on real property may take, or purchase and hold, or loan upon another and immediately junior lien but...
• California Financial Code Section 1236
  A commercial bank may lend on the security of a first security interest on stock or a membership certificate issued to a tenant-stockholder or resident-member...
• California Financial Code Section 1238
  (a) A commercial bank may make amortized loans upon the security of residential real property to finance the purchase and installation of material or equipment...
• California Financial Code Section 1241
  (a) Any state-chartered bank that makes a refund anticipation loan to a covered borrower, as defined in Section 232 of Title 32 of the Code...
• California Financial Code Section 1335
  (a) A commercial bank may invest in gold and silver bullion and United States mint certificates of ascertained value, and purchase securities, except corporation shares,...
• California Financial Code Section 1336
  Unless otherwise approved by the commissioner, a commercial bank shall not invest an amount exceeding 15 percent of its shareholders' equity in the securities of...
• California Financial Code Section 1337
  If any commercial bank has made investments which it was authorized to make at the time they were made it shall not be required to...
• California Financial Code Section 1338
  A commercial bank may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of any investment...
• California Financial Code Section 1380
  Whenever the public administrator becomes the administrator of the estate of a decedent who at the time of his death left money on deposit with...
• California Financial Code Section 1381
  A commercial bank accepting savings deposits shall provide by its bylaws or by contract with its savings depositors the time and condition on which repayment...
• California Financial Code Section 1382
  For the purposes of any law authorizing or providing for the deposit of funds with a savings bank, a commercial bank accepting savings deposits shall...
• California Financial Code Section 1400
  Chapter 11 (commencing with Section 1400) of Division 1 is a restatement of Division 7 (commencing with Section 18000) as that division pertains to the...
• California Financial Code Section 1401
  (a) Any reference in a provision of any statute or regulation of this state to banks or commercial banks includes industrial banks. (b) Subdivision (a)...
• California Financial Code Section 1402
  The Industrial Loan Account of the Financial Institutions Fund is renamed to be the Industrial Bank Account.
• California Financial Code Section 1403
  (a) The commissioner shall annually levy on and collect from industrial banks authorized to transact industrial banking business in this state, pro rata on the...
• California Financial Code Section 1410
  Each industrial bank shall be an insured bank at all times while it is engaged in the industrial banking business.
• California Financial Code Section 1411
  Subject to any order or regulation of the commissioner, an industrial bank may accept deposits evidenced by a deposit account or by certificates, that are...
• California Financial Code Section 1412
  In addition to other provisions of this division that are otherwise applicable to an industrial bank, the following provisions of this division apply to the...
• California Financial Code Section 1500
  No corporation shall engage in the trust business unless: (a) Its articles comply with the requirements of subdivision (b), (d), or (e) of Section 600;...
• California Financial Code Section 1500.1
  Any commercial bank or industrial bank, with the prior authorization of the commissioner, may engage in the trust business, if its articles comply with the...
• California Financial Code Section 1500.6
  No California state bank may engage in trust business at a place unless the place is its head office, an authorized branch office, or an...
• California Financial Code Section 1501.2
  The following persons are exempt from the restrictions and prohibitions contained in Section 1500 and Article 3 (commencing with Section 3390) of Chapter 18: (a)...
• California Financial Code Section 1502
  In this section, "subject national banking association" means a national banking association that (a) maintains its main office or a branch office in this state,...
• California Financial Code Section 1503
  No foreign corporation, other than a national banking association or a foreign (other state) state bank that is authorized to conduct a trust business in...
• California Financial Code Section 1504
  Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1...
• California Financial Code Section 1505
  The Legislature finds and declares that it is important to inform taxpayers that they may make voluntary contributions to certain funds or programs, as provided...
• California Financial Code Section 1520
  It is the intent of the Legislature that the provisions of this article, insofar as they are contained in the regulations regarding fiduciary activities of...
• California Financial Code Section 1521
  For purposes of Section 1522, the following terms have the following meanings: (a) "Bank" means any of the following: (1) A commercial bank, industrial bank,...
• California Financial Code Section 1522
  (a) Sections 9.4 to 9.6, inclusive, Sections 9.8 to 9.15, inclusive, and Sections 9.18 to 9.101, inclusive, of the Fiduciary Regulations in all of their...
• California Financial Code Section 1540
  Every trust company shall deposit with the State Treasurer money or securities of the character described in Section 1542 as security for its court and...
• California Financial Code Section 1541
  Whenever any trust company receives trust funds or property, other than real property, from court trusts accepted by it to the amount of one million...
• California Financial Code Section 1542
  Security deposited with the State Treasurer by trust companies pursuant to Section 1540 or 1541 shall consist of the following: (a) Bonds or other interest-bearing...
• California Financial Code Section 1543
  Such money or securities shall be approved by the commissioner and be deposited with the Treasurer upon the written order of the commissioner. Upon receiving...
• California Financial Code Section 1544
  Securities deposited pursuant to this article may be exchanged from time to time, with the approval of the commissioner, for other like securities of equal...
• California Financial Code Section 1545
  Should any security deposited pursuant to this article so depreciate in value as to reduce the deposit below the amount required by this article, additional...
• California Financial Code Section 1545.5
  When any revaluation of securities is made by the commissioner pursuant to Section 1545, other than at the time such securities are presented for deposit,...
• California Financial Code Section 1546
  The money and securities deposited pursuant to this article shall be subject to sale and the same or the proceeds thereof shall be subject to...
• California Financial Code Section 1547
  The commissioner may, pursuant to Section 216.3, levy a civil penalty against any trust company that fails to comply with this article.
• California Financial Code Section 1560
  A trust company may invest its contributed capital only in the securities and properties in which a commercial bank is permitted to invest its funds...
• California Financial Code Section 1561
  Trust funds received by any trust company in connection with its trust business, if invested, shall be invested as provided in Part 4 (commencing with...
• California Financial Code Section 1561.1
  (a) As used in this section: (1) "Fund" means any investment company registered under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1 et...
• California Financial Code Section 1562
  Any trust company or bank authorized to engage in the trust business holding trust funds awaiting investment or distribution may deposit or leave on deposit...
• California Financial Code Section 1563
  Any trust company acting in any capacity under a court or private trust or when acting in such capacity with one or more persons as...
• California Financial Code Section 1564
  (a) For purposes of this section, two or more trust companies shall be deemed to be affiliated if they are members of the same affiliated...
• California Financial Code Section 1565
  With regard to any participation certificates heretofore issued by any trust company, secured by a trust deed or mortgage, the full legal title in the...
• California Financial Code Section 1580
  A trust company has the following powers: (a) It may act, or may be appointed by any court to act, in like manner as an...
• California Financial Code Section 1581
  For the purposes of this chapter, all trusts and other business permitted to be accepted or executed by a trust company are hereby classified and...
• California Financial Code Section 1582
  A trust company, its officers and employees, shall not disclose any information to any person concerning the existence, condition, management, and administration of any private...
• California Financial Code Section 1583
  The commissioner shall examine the court trust business of a trust company at least once every two calendar years and shall examine the private trust...
• California Financial Code Section 1584
  In making the reports to the commissioner required by this division, every trust company shall report, in addition to the other facts called for, separately,...
• California Financial Code Section 1586
  Any court having jurisdiction of any executor, administrator, guardian, conservator, assignee, receiver, depositary, or trustee, upon the application of any such officer or trustee or...
• California Financial Code Section 1586.5
  Securities held by a trust company by direction of any court order issued pursuant to Section 1586 may be deposited, pursuant to the provisions of...
• California Financial Code Section 1587
  Whenever an executor, administrator, guardian or conservator of estates, assignee, receiver, depositary, or trustee is required to qualify by taking and subscribing an oath or...
• California Financial Code Section 1588
  Whenever any corporation desires to withdraw from and discontinue doing a trust business, it shall furnish to the commissioner satisfactory evidence of its release and...
• California Financial Code Section 1589
  The validity or legality of any act or proceeding done or taken by any trust company, relating to or in connection with the administration of...
• California Financial Code Section 1590
  Nothing in this chapter shall make it unlawful for any person or corporation to engage in the business of receiving and holding money in escrow...
• California Financial Code Section 1591
  A bank or trust company shall not mingle trust funds received by it with other assets of the corporation or association and such funds shall...
• California Financial Code Section 1650
  Notice to a bank operating a safety deposit department or to a company conducting a safety deposit business of an adverse claim (the person making...
• California Financial Code Section 1660
  Every bank conducting a safe-deposit business shall be entitled to the special remedies set forth in this article in enforcing the liabilities of safe-deposit box...
• California Financial Code Section 1661
  If the rental of any safe-deposit box is not paid within six months from the day it is due, the bank, or at any time...
• California Financial Code Section 1662
  At any time after the date specified in such notice, if the rental for such safe-deposit box to the date of payment and the cost...
• California Financial Code Section 1662.5
  The following persons, and no others, are entitled to receive from the bank a copy of the inventory: (a) An executor of the decedent's will....
• California Financial Code Section 1663
  All contents removed from a safe-deposit box pursuant to Section 1662 shall be retained by the bank for at least two years unless sooner delivered...
• California Financial Code Section 1664
  At any time after two years from the day when a safe-deposit box has been opened pursuant to this article, the bank may mail a...
• California Financial Code Section 1665
  Notwithstanding any of the provisions of this article, no stocks, bonds, or other securities which, at the time of sale pursuant to Section 1664, are...
• California Financial Code Section 1666
  Upon the making of a sale of any securities, an officer of the bank shall execute and attach to the securities so sold an affidavit...
• California Financial Code Section 1667
  From the proceeds of any sale the bank shall deduct the amount set forth in such notice and any further charges which may have accrued...
• California Financial Code Section 1668
  Any documents, letters, or other articles found in a safe-deposit box opened pursuant to Section 1662, which in the judgment of at least two officers...
• California Financial Code Section 1669
  If, before the effective date of this section, a bank or its predecessor in interest, has caused a safe-deposit box to be opened for nonpayment...
• California Financial Code Section 1670
  Whenever a bank receives personal property for safekeeping or storage as bailee and issues a receipt therefor, the bank may enforce its lien as warehouseman...
• California Financial Code Section 1671
  If the amount charged by a bank for the safekeeping or storage of personal property is not paid within six months from the day it...
• California Financial Code Section 1672
  From the proceeds of the sale, the bank shall deduct all charges as stated in the final notice, together with any further charges that have...
• California Financial Code Section 1673
  Any documents, letters, or other articles which, in the judgment of an officer of the bank, have no apparent intrinsic or marketable value, need not...
• California Financial Code Section 1674
  The power conferred on a bank to sell the contents of a safe-deposit box or personal property received for safekeeping or storage for nonpayment of...
• California Financial Code Section 1675
  A bank holding a safe-deposit box originally rented from, or personal property against which a safekeeping or storage receipt was issued by, a predecessor in...
• California Financial Code Section 1676
  The provisions of this article do not preclude any other remedy by action or otherwise now or hereafter existing for the enforcement of the claims...
• California Financial Code Section 1677
  If the principal of, or interest or dividends on, any securities that have come into the possession of any bank by reason of action taken...
• California Financial Code Section 1678
  (a) Whenever this article requires that notice be sent to a person, and the box stood or stands on the records of the bank or...
• California Financial Code Section 1679
  Whenever an amount of safe-deposit rental, custody, safekeeping, or other charge is to be paid or deducted pursuant to this article, there shall be added...
• California Financial Code Section 1680
  Any bank or trust company may receive bonds issued by the United States Government for safekeeping, collection, or storage, and shall receipt therefor to the...
• California Financial Code Section 1700
  In this chapter, unless the context otherwise requires: (a) "Agency" means a depositary agency or a nondepositary agency. (b) "Branch office" means a limited branch...
• California Financial Code Section 1700.3
  Nothing in this chapter, except Section 1707, applies to a federal agency or branch in this state.
• California Financial Code Section 1700.5
  (a) In this section, "subject bank" means a bank organized under the laws of any territory of the United States, Puerto Rico, Guam, American Samoa,...
• California Financial Code Section 1701
  For purposes of this chapter, offices of foreign (other nation) banks are divided into classes and ranked in ascending order, as follows: (a) Representative office....
• California Financial Code Section 1701.5
  (a) For purposes of this chapter: (1) Changing a lower class office into a higher class office shall be treated as establishing the higher class...
• California Financial Code Section 1702
  Fees shall be paid to, and collected by, the commissioner, as follows: (a) The fee for filing with the commissioner an application by a foreign...
• California Financial Code Section 1703
  Each application filed with the commissioner under this chapter or under any regulation or order issued under this chapter shall be in such form, shall...
• California Financial Code Section 1704
  (a) In this section, "act" includes (without limitation) omission. (b) For purposes of making findings on an application by a foreign (other nation) bank for...
• California Financial Code Section 1705
  (a) Each foreign (other nation) bank that is licensed to maintain an office shall file with the commissioner reports as and when the commissioner may,...
• California Financial Code Section 1706
  Each foreign (other nation) bank that is licensed to maintain an office shall make, keep, and preserve at the office or at another place that...
• California Financial Code Section 1707
  (a) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall concurrently maintain a federal agency or federal branch...
• California Financial Code Section 1708
  (a) No foreign (other nation) bank shall concurrently be licensed to maintain offices of different classes. (b) Subdivision (a) does not prohibit a foreign (other...
• California Financial Code Section 1710
  (a) (1) No foreign (other nation) bank (other than a bank that is licensed to maintain an agency or branch office) shall be issued a...
• California Financial Code Section 1711
  No license shall be transferable or assignable.
• California Financial Code Section 1712
  Each foreign (other nation) bank that is licensed to maintain an office shall post its license in a conspicuous place at the office.
• California Financial Code Section 1713
  (a) Each foreign (other nation) bank that is licensed to maintain an office shall assign to the office a popular name that consists of a...
• California Financial Code Section 1714
  Whenever a foreign (other nation) bank is licensed to maintain two or more agencies or branch offices, it shall designate one of such offices as...
• California Financial Code Section 1715
  Each foreign (other nation) bank that is licensed to maintain an office shall conduct all of the business of the office in a single building...
• California Financial Code Section 1716
  Any foreign (other nation) bank that, at the time it makes a loan or forbearance or executes a contract therefor, has assets equal to at...
• California Financial Code Section 1725
  (a) No foreign (other nation) bank shall establish or maintain an office in this state at which it engages in representational functions unless it is...
• California Financial Code Section 1726
  (a) (1) No foreign (other nation) bank shall establish or maintain a representative office unless the commissioner shall have first approved the establishment of the...
• California Financial Code Section 1727
  (a) No foreign (other nation) bank that is licensed to maintain a representative office shall relocate the office unless the commissioner shall have first approved...
• California Financial Code Section 1728
  A foreign (other nation) bank that is licensed to maintain a representative office may, subject to any regulations that the commissioner may prescribe, engage in...
• California Financial Code Section 1729
  (a) (1) No foreign (other nation) bank that is licensed to maintain a representative office shall close the office unless the commissioner shall have first...
• California Financial Code Section 1750
  (a) No foreign (other nation) bank shall transact business in this state except at an agency or branch office that it is licensed to maintain...
• California Financial Code Section 1751
  No foreign (other nation) bank shall be licensed to maintain any agency or branch office unless it is qualified to transact intrastate business in this...
• California Financial Code Section 1752
  No foreign (other nation) bank shall be licensed to maintain a retail branch office unless the deposits in such office are insured by the Federal...
• California Financial Code Section 1753
  (a) (1) No foreign (other nation) bank shall establish or maintain an agency or branch office unless the commissioner shall have first approved the establishment...
• California Financial Code Section 1754
  (a) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall relocate such office unless the commissioner shall have...
• California Financial Code Section 1755
  (a) A foreign (other nation) bank that is licensed to maintain an agency or branch office may transact commercial banking business at the office, subject...
• California Financial Code Section 1756
  (a) In addition to other provisions of this division that are otherwise applicable to or with respect to foreign (other nation) banks licensed to maintain...
• California Financial Code Section 1757
  (a) Whenever the commissioner calls for a report under Section 1931 from commercial banks organized under the laws of this state, the commissioner shall call...
• California Financial Code Section 1758
  Each foreign (other nation) bank which is licensed to maintain a depositary agency, limited branch office, or wholesale branch office shall, in accordance with such...
• California Financial Code Section 1759
  (a) In case a foreign (other nation) bank is licensed to maintain a depositary agency or branch office and such office is not subject to...
• California Financial Code Section 1760
  (a) Each foreign (other nation) bank which is licensed to transact business in this state shall keep the assets of such business separate and apart...
• California Financial Code Section 1761
  (a) In this section: (1) "Adjusted liabilities," when used with respect to a foreign (other nation) bank, means the liabilities of such bank's business in...
• California Financial Code Section 1762
  (a) In this section: (1) "Adjusted liabilities," when used with respect to a foreign (other nation) bank which is licensed to maintain a branch office...
• California Financial Code Section 1763
  (a) (1) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall close such office unless the commissioner shall...
• California Financial Code Section 1775
  (a) Any foreign (other nation) bank that holds a license to maintain an office may voluntarily surrender the license by filing the license and a...
• California Financial Code Section 1780
  If the commissioner finds that any person has violated any provision of this chapter or of any regulation or order issued under this chapter, the...
• California Financial Code Section 1781
  If, after notice and a hearing, the commissioner finds any of the following with respect to a foreign (other nation) bank that is licensed to...
• California Financial Code Section 1782
  (a) If the commissioner finds that any of the factors set forth in Section 1781 is true with respect to any foreign (other nation) bank...
• California Financial Code Section 1783
  Any foreign (other nation) bank whose license to maintain an office is suspended or revoked shall immediately surrender the license to the commissioner.
• California Financial Code Section 1784
  (a) Any foreign (other nation) bank to which an order is issued under Section 1781 or 1782 may apply to the commissioner to modify or...
• California Financial Code Section 1785
  (a) If the commissioner finds that any of the factors set forth in Section 1781 is true with respect to any foreign (other nation) bank...
• California Financial Code Section 1800
  (a) It is the intent of the Legislature in enacting this chapter to protect the people of this state from being victimized by unscrupulous practices...
• California Financial Code Section 1800.3
  (a) No person shall engage in the business of receiving money for the purpose of transmitting the same or its equivalent to foreign countries without...
• California Financial Code Section 1800.4
  The receipt of money by an incorporated telegraph company, or its agents, for immediate transmission by telegraph to foreign countries shall be exempt from licensure...
• California Financial Code Section 1800.5
  For the purposes of this chapter: (a) (1) "Receiving money for transmission" means receiving money for the purpose of transmitting the same or its equivalent...
• California Financial Code Section 1800.7
  (a) As used in this section, "designated person" means any agent, any applicant, the officers, directors, and controlling persons of any applicant or agent, and...
• California Financial Code Section 1800.9
  The commissioner may impose on any authorization, approval, license, or order issued pursuant to this chapter any conditions that he or she deems reasonable or...
• California Financial Code Section 1801
  (a) Fees shall be paid to, and collected by, the commissioner, as follows: (1) The fee for filing with the commissioner an application for a...
• California Financial Code Section 1801.1
  Each fiscal year the commissioner shall levy an assessment on a pro rata basis on those licensees which at any time during the preceding calendar...
• California Financial Code Section 1802
  (a) An application for a license shall be in writing, under oath, and in a form prescribed by the commissioner. It shall contain the name...
• California Financial Code Section 1802.2
  If the commissioner finds, with respect to an application for a license: (a) That the applicant has adequate capital as specified in Section 1814 to...
• California Financial Code Section 1802.6
  The license is not transferable or assignable.
• California Financial Code Section 1802.7
  If the application is approved by the commissioner he or she shall, upon the payment of the license fees, issue and deliver to the applicant...
• California Financial Code Section 1802.8
  (a) Before any applicant is issued a license the applicant shall file with the commissioner, in the form required by the commissioner, an irrevocable consent...
• California Financial Code Section 1803
  No licensee shall appoint or continue any person as an agent, unless the licensee and the person have made a written contract which contains each...
• California Financial Code Section 1803.1
  (a) No licensee shall appoint any person as an agent unless it has conducted a review of the proposed agent's fitness to act as an...
• California Financial Code Section 1803.2
  (a) Each licensee shall be liable as a principal for the transmission of the transmission money from the time when the transmission money is received...
• California Financial Code Section 1803.3
  (a) If, after notice and a hearing, the commissioner finds that an agent of a licensee or any director, officer, employee, or controlling person of...
• California Financial Code Section 1803.4
  (a) The licensee or the agent or former agent with respect to whom an order has been issued under Section 1803.3 may apply to the...
• California Financial Code Section 1803.5
  (a) Any licensee, having as an agent any person to whom an order has been issued pursuant to Section 1803.3 shall, when that order becomes...