California Financial Code

§ 1022

FIN § 1022 Effective Jan 1, 2012Div. 1.1 · Ch. 2

Statute text

Upon the filing of an application the commissioner shall make or cause to be made a careful investigation and examination relative to the following:

(a)The character, reputation, and financial standing of the organizers or incorporators and their motives in seeking to organize the proposed bank or trust company.

(b)The need for banking or trust facilities or additional banking or trust facilities, as the case may be, giving particular consideration to the adequacy of existing banking or trust facilities and the need for further banking or trust facilities.

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Legislative history

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