California Financial Code

§ 1556

FIN § 1556 Effective Jan 1, 2012Div. 1.1 · Ch. 16 · Art. 1

Statute text

Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligations of, loans made or arranged by, or forbearances of, any of the following that is authorized to engage in the trust business, when acting in its fiduciary capacity:

(a)Any California state bank.

(b)Any national bank that maintains its main office or a branch office in this state.

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Legislative history

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