§ 1385 Bank Agency Application Rules

Financial Code·California

AI SummaryVerified

This law says that if a California bank wants another bank to do some work for them, they have to fill out an application the way the banking boss says.

Key Takeaways

•Banks need permission to let another bank do work for them.
•They have to fill out a form the way the banking boss says.
•Sometimes they have to swear the info is true.

Example

Bank A wants Bank B to handle some of its customer services.

Bank A has to fill out a form exactly how the banking boss tells them to, and might even have to promise it's all true.

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

Official Source

View on CA.gov

§ 1385 Bank Agency Application Rules

An application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent shall be in the form, shall contain the information, shall be signed in the manner, and shall, if the commissioner so requires by regulation or order, be verified in the manner that the commissioner may, by regulation or order, require. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

California state bank insured depository institution authorized agency activities commissioner

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 1385.

Key Takeaways

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Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References