California Financial Code

§ 1394

FIN § 1394 Effective Jan 1, 2012Div. 1.1 · Ch. 11 · Art. 3

Statute text

In determining whether to approve or deny an application by a California state bank for approval to engage in authorized agency activities as agent for an insured depository institution, the commissioner shall consider both of the following factors:

(a)Whether the proposed agency arrangement is consistent with the safe and sound operation of the California state bank.

(b)Any other factors that the commissioner deems relevant.

Legislative history

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