California Financial Code

§ 500

FIN § 500 Effective Jan 1, 2012Div. 1 · Ch. 5 · Art. 1

Statute text

(a)(1) For purposes of this section, “foreign bank” means the business in this state of every foreign (other nation) bank licensed under Article 3 (commencing with Section 1800) of Chapter 20 of Division 1.1.

(2)For purposes of this subdivision, an examination made by the commissioner in conjunction with or with assistance from a bank regulatory agency of the United States, of a state of the United States, or of a foreign nation is deemed to be an examination caused by the commissioner.

(3)No provision of this subdivision shall be deemed to require that the commissioner cause an examination to be made onsite at the offices of a bank.

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Legislative history

Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.