California Financial Code

§ 1685

FIN § 1685 Effective Jan 1, 2012Div. 1.1 · Ch. 19 · Art. 2

Statute text

(a)No foreign (other state) bank that does not already maintain a California branch office may:

(1)Merge as the surviving bank with a California bank pursuant to paragraph (1) of subdivision (a) of Section 1684, unless the California bank has been in existence for at least five years.

(2)Purchase the whole business unit of a California bank pursuant to paragraph (2) of subdivision (a) of Section 1684 unless the California bank has been in existence for at least five years.

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Legislative history

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