California Financial Code

§ 1100

FIN § 1100 Effective Jan 1, 2020Div. 1.1 · Ch. 5 · Art. 1

Statute text

The articles of each bank shall contain the applicable one of the following statements:

(a)Except as provided in subdivision (f), if the bank is, or is proposed to be, a commercial bank not authorized to engage in trust business, that the purpose of the corporation is to engage in commercial banking business and any other lawful activities which are not, by applicable laws or regulations, prohibited to a commercial bank.

(b)Except as provided in subdivision (f), if the bank is, or is proposed to be, a commercial bank authorized to engage in trust business, that the purpose of the corporation is to engage in commercial banking business and trust business and any other lawful activities which are not, by applicable laws or regulations, prohibited to a commercial bank authorized to engage in trust business.

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Legislative history

Amended by Stats. 2019, Ch. 442, Sec. 7. (AB 857) Effective January 1, 2020.