California Corporations Code

§ 163

CORP § 163 Effective Jan 1, 2023Div. 1 · Title 1 · Ch. 1

Statute text

“Corporation subject to the Banking Law” (Division 1.1 (commencing with Section 1000) of the Financial Code) means:

(a)Any corporation which, with the approval of the Commissioner of Financial Protection and Innovation, is incorporated for the purpose of engaging in, or which is authorized by the Commissioner of Financial Protection and Innovation to engage in, the commercial banking business under Division 1.1 (commencing with Section 1000) of the Financial Code.

(b)Any corporation which, with the approval of the Commissioner of Financial Protection and Innovation, is incorporated for the purpose of engaging in, or which is authorized by the Commissioner of Financial Protection and Innovation to engage in, the industrial banking business under Division 1.1 (commencing with Section 1000) of the Financial Code.

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Legislative history

Amended by Stats. 2022, Ch. 452, Sec. 43. (SB 1498) Effective January 1, 2023.