§ 1702 Foreign Bank Facility Notification

Financial Code·California

AI SummaryVerified

This rule says a bank from another state that is insured must tell the commissioner at least 30 days before it opens a new branch and must send a report and make the appointment that Section 1703 talks about.

Key Takeaways

•A foreign (out‑of‑state) insured bank must give at least 30 days notice before opening a new facility.
•The bank must file a report with the commissioner.
•The bank must also make the appointment required by Section 1703.

Example

A bank from State A wants to open a new branch in State B.

Before the new branch opens, the bank has to give the commissioner at least 30 days notice, send a report, and follow the appointment steps required by Section 1703.

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

Official Source

View on CA.gov

§ 1702 Foreign Bank Facility Notification

Not less than 30 days before an insured foreign (other state) bank establishes a facility, the bank shall file with the commissioner a report and the appointment required pursuant to Section 1703. (Amended by Stats. 2013, Ch. 334, Sec. 41. (SB 537) Effective January 1, 2014.)

Last verified: January 11, 2026

Key Terms

insured foreign bank facility commissioner report appointment

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 1702.

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Key Takeaways

Example

Key Terms

Related Statutes

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