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HomeFinancial CodeDiv. 1.1Ch. 4§ 1072 Bank Head Office Requirement

§ 1072 Bank Head Office Requirement

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 1072 Bank Head Office Requirement

This law says every bank must set up and keep a main office (head office) inside this state.

Key Takeaways

  • •All banks must have a head office in the state.
  • •The head office has to be created and kept there, not just a temporary location.
  • •The rule started working on January 1, 2012.

Example

A bank that only has branches in other states wants to start doing business here.

Because of this law, the bank has to open a main office in the state and keep it there before it can operate.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 1072 Bank Head Office Requirement

Every bank shall establish and maintain a head office which shall be located in this state. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 10, 2026

Key Terms

head officethis state

Related Statutes

  • § 1070 Banking Facility Definitions
  • § 100023 Commissioner Licensee Examination
  • § 1071 Bank Office Certificate Fees
  • § 1073 Bank Office Establishment Approval
  • § 1074 Bank Office Relocation Approval

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 1072.
View Official Source