California Financial Code

§ 1670

FIN § 1670 Effective Jan 1, 2012Div. 1.1 · Ch. 19 · Art. 1

Statute text

In this chapter, unless the context otherwise requires:

(a)“Branch business unit” has the meaning set forth in subdivision (a) of Section 4840.

(b)“Core banking business” means the business of receiving deposits, paying checks, making loans, and other activities that the commissioner may specify by order or regulation. “Core banking business,” when used to describe the trust business, includes receiving fiduciary assets and administering fiduciary accounts.

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Legislative history

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.