§ 1552 Bank Trust Business Locations

Financial Code·California

AI SummaryVerified

This law says a California state bank can only do trust work at its main office, an approved branch, or another place the bank is allowed to use.

Key Takeaways

•Trust business is only allowed at the bank's head office, an authorized branch, or an authorized location.
•Doing trust work elsewhere is not permitted.
•All California state banks must follow this rule.

Example

A bank wants to set up a trust account for a customer at a coffee shop it rents for meetings.

The coffee shop is not the bank's head office, a branch, or an authorized place, so the bank cannot hold trust business there.

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

Official Source

View on CA.gov

§ 1552 Bank Trust Business Locations

No California state bank may engage in trust business at a place unless the place is its head office, an authorized branch office, or an authorized place of business. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

California state bank trust business head office authorized branch office authorized place of business

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 1552.

Key Takeaways

Example

Key Terms

Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References