California Financial Code

§ 1800

FIN § 1800 Effective Jan 1, 2012Div. 1.1 · Ch. 20 · Art. 3

Statute text

(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 and at which it is permitted by this chapter to transact the business transacted.

(b)Subdivision (a) shall not be deemed to prohibit:

(1)Any foreign (other nation) bank that maintains a federal agency or federal branch in this state from transacting at the federal agency or federal branch any business that it may be authorized to transact under applicable federal laws and regulations;

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Legislative history

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