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HomeFinancial CodeDiv. 1.1Ch. 19Art. 2§ 1683 Foreign Bank Branch Insurance

§ 1683 Foreign Bank Branch Insurance

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

§ 1683 Foreign Bank Branch Insurance

This law says a bank from another state can only open or keep a California branch if it has insurance.

Key Takeaways

  • •Applies only to banks from other states (foreign banks).
  • •The bank must be insured before it can start or keep a California branch.
  • •The rule started on January 1, 2012.

Example

A bank based in Texas wants to open a new branch in San Francisco.

If the Texas bank does not have deposit insurance, it cannot open or keep that San Francisco branch because the law requires insurance.

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

Official Source
View on CA.gov

§ 1683 Foreign Bank Branch Insurance

No foreign (other state) bank may establish or maintain a California branch office unless the bank is insured. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

foreign bankCalifornia branch officeinsured

Related Statutes

  • § 1682 Foreign Bank Branch Requirements
  • § 1685 Foreign Bank Merger Restrictions
  • § 1681 Foreign Bank Exemptions
  • § 1684 Foreign Bank Mergers Restrictions
  • § 1686 Bank Acquisition Age Exemption

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 1683.
View Official Source