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California Financial Code

§ 1685

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

Statute text

View on leginfo.ca.gov
(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.

Source: California Financial Code § 1685 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.