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HomeFinancial CodeDiv. 1.1Ch. 4§ 1073 Bank Office Establishment Approval

§ 1073 Bank Office Establishment Approval

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

§ 1073 Bank Office Establishment Approval

This law says a bank can open and keep one or more offices, but only if its board gives approval.

Key Takeaways

  • •The bank must get its board's approval before opening any new office.
  • •The bank can have one office or many offices.
  • •The law simply gives permission; it doesn't force the bank to open offices.

Example

A local bank wants to open a new branch in a nearby city.

If the bank's board votes to approve the new branch, the bank is allowed to set up and run that office under this law.

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

Official Source
View on CA.gov

§ 1073 Bank Office Establishment Approval

A bank, with the approval of its board, may establish and maintain one or more offices. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 10, 2026

Key Terms

bankboardofficesStats. 2011, Ch. 243, Sec. 3 (SB 664)January 1, 2012

Related Statutes

  • § 1077 Bank Office Annual Report
  • § 1071 Bank Office Certificate Fees
  • § 1074 Bank Office Relocation Approval
  • § 1078 Branch Office Closure Notice
  • § 1080 Bank Penalty Enforcement

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 1073.
View Official Source