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HomeFinancial CodeDiv. 1.1Ch. 18§ 1663 Bank Holding Company Acquisitions

§ 1663 Bank Holding Company Acquisitions

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

§ 1663 Bank Holding Company Acquisitions

This law lets the state banking commissioner say yes to a bank holding company's purchase of another bank if the purchase is good for the public in the state.

Key Takeaways

  • •The law uses the same definitions as a part of the federal Bank Holding Company Act.
  • •The state banking commissioner can approve certain bank acquisitions.
  • •Approval is only given when the deal is in the public convenience and advantage of the state.

Example

A large bank wants to buy a small community bank in the state.

The commissioner looks at the deal and decides if it will help people – like keeping branches open, offering more services, or keeping fees low. If it looks good for the community, the commissioner can approve the purchase.

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

Official Source
View on CA.gov

§ 1663 Bank Holding Company Acquisitions

(a) The definitions that are set forth in or are applicable to Section 3(d) of the Bank Holding Company Act of 1956 (12 U.S.C. Sec. 1842(d)) apply to this section. (b) The commissioner may approve an acquisition by a bank holding company that is subject to Section 3(d)(2)(B) and (D)(ii) of the Bank Holding Company Act of 1956 (12 U.S.C. Sec. 1842(d)(2)(B) and (D)(ii)) if the commissioner finds that the acquisition is consistent with the public convenience and advantage in this state. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

Bank Holding Company Act of 1956public convenience and advantagecommissioner

Related Statutes

  • § 1661 Application Filing Requirements
  • § 1662 Application Fee Amount
  • § 1664 Interstate Bank Merger Rules
  • § 16529 Foreign Credit Union Office Closure
  • § 16554 Foreign Credit Union Relocation

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 1663.
View Official Source