California Financial Code

§ 1804

FIN § 1804 Effective Jan 1, 2012Div. 1.1 · Ch. 20 · Art. 3

Statute text

(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 first approved such relocation and issued a license authorizing such bank to maintain the office at the new site.

(b)If the commissioner finds the following with respect to an application by a foreign (other nation) bank for approval to relocate any agency or branch office, the commissioner shall approve such application:

(1)In case the new site of the office is in the same vicinity as the old site:

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Legislative history

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