§ 1705 Foreign Bank Facility Closure

Financial Code·California

AI SummaryVerified

This law says that any out‑of‑state bank that is insured must tell the state commissioner at least 30 days before it shuts down one of its branches.

Key Takeaways

•Out‑of‑state (foreign) banks must give notice before closing a facility.
•The notice must be at least 30 days in advance.
•The notice is a report filed with the state commissioner.

Example

A bank from another state plans to close its downtown branch next month.

The bank has to send a report to the state commissioner at least 30 days before the closing date, so the state knows the branch will be shutting down.

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

Official Source

View on CA.gov

§ 1705 Foreign Bank Facility Closure

Not less than 30 days before an insured foreign (other state) bank closes a facility, it shall file a report with the commissioner. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

insured foreign bank file a report commissioner 30 days

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 1705.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References