California Government Code

§ 53657

GOV § 53657 Effective Jan 1, 1997Div. 2 · Title 5 · Part 1 · Ch. 4 · Art. 2

Statute text

(a)No person shall act as an agent of depository unless that person is a trust company located in this state, the trust department of a bank located in this state, or the Federal Home Loan Bank of San Francisco, and is authorized by the administrator to act as an agent of depository.

(b)(1) An application for authorization shall be in such form, shall contain such information, shall be signed in such manner, and shall (if the administrator so requires) be verified in such manner, as the administrator may prescribe.

(2)The fee for filing an application for authorization with the administrator shall be five hundred dollars ($500).

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Legislative history

Amended by Stats. 1996, Ch. 1063, Sec. 82. Effective January 1, 1997.