California Financial Code
§ 1676
FIN § 1676 Effective Jan 1, 2012Div. 1.1 · Ch. 19 · Art. 1
Statute text
View on leginfo.ca.gov(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, the Trust Territory of the Pacific Islands, the Virgin Islands, or the Northern Mariana Islands.
(b)Nothing in this chapter, except subdivision (c), applies to a subject bank that, as a foreign (other nation) bank, maintains an office in this state licensed under Chapter 20 (commencing with Section 1750) or a federal agency (as defined in Section 1750) or federal branch (as defined in Section 1750) in this state.
(c)No subject bank may at the same time maintain (1) as a foreign (other state) state bank, an office in this state and (2) as a foreign (other nation) bank, an office in this state licensed under Chapter 20 (commencing with Section 1750) or a federal agency (as defined in Section 1750) or federal branch (as defined in Section 1750) in this state.
Legislative history
Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.