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California Financial Code

§ 1675

FIN § 1675 Effective Jan 1, 2012Div. 1.1 · Ch. 19 · Art. 1

Statute text

View on leginfo.ca.gov
(a)Any foreign (other state) state bank is exempted from the restrictions of Section 1 of Article XV of the California Constitution relating to rates of interest upon the loan or forbearance of any money, goods, or things in action or on accounts after demand.
(b)This section does not exempt a foreign (other state) state bank or any subsidiary from complying with all other laws and regulations governing the business in which the bank or subsidiary is engaged.
(c)This section creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution.

Legislative history

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

Source: California Financial Code § 1675 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.