§ 1253 Bank Control Application Fees

Financial Code·California

AI SummaryVerified

This law says you have to pay a fee if you want to take control of a bank. The fee is $500 if you've worked at the bank for at least 2 years, otherwise it's $1,500.

Key Takeaways

•You need to pay a fee to take control of a bank.
•The fee is $500 if you've worked at the bank for at least 2 years.
•If you haven't worked there that long, the fee is $1,500.

Example

If you want to buy a bank and you've been working there as a manager for 3 years, you'll pay $500.

Because you've worked at the bank for more than 2 years, you pay the lower fee.

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

Official Source

View on CA.gov

§ 1253 Bank Control Application Fees

An application for approval to acquire control of a bank or a controlling person shall be in such form and contain such information as the commissioner may require by regulation or order and shall be accompanied by the following fee: (a) In case the applicant has been a director or officer of the bank for not less than two years (or, if the bank has been in business for less than two years, for such lesser period), a fee of five hundred dollars ($500); and (b) In any other case, a fee of one thousand five hundred dollars ($1,500). (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 10, 2026

Key Terms

application for approval acquire control bank controlling person commissioner fee director officer

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 1253.

§ 1253 Bank Control Application Fees

Financial Code·California

AI SummaryVerified

§ 1253 Bank Control Application Fees

This law says you have to pay a fee if you want to take control of a bank. The fee is $500 if you've worked at the bank for at least 2 years, otherwise it's $1,500.

Key Takeaways

•You need to pay a fee to take control of a bank.
•The fee is $500 if you've worked at the bank for at least 2 years.
•If you haven't worked there that long, the fee is $1,500.

Example

If you want to buy a bank and you've been working there as a manager for 3 years, you'll pay $500.

Because you've worked at the bank for more than 2 years, you pay the lower fee.

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

Official Source

View on CA.gov

§ 1253 Bank Control Application Fees

Last verified: January 10, 2026

Key Terms

application for approval acquire control bank controlling person commissioner fee director officer

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 1253.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References