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HomeFinancial CodeDiv. 1.1Ch. 19Art. 4§ 1715 Foreign Bank Noncore Business

§ 1715 Foreign Bank Noncore Business

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

§ 1715 Foreign Bank Noncore Business

This law lets a foreign bank that isn’t insured open a branch and do things like give advice or exchange money, but it can’t take deposits, give out loans, write checks, or do any other main banking activities there.

Key Takeaways

  • •The bank must be uninsured and from another state.
  • •It can only do non‑core banking activities at the office.
  • •It cannot solicit or receive deposits, pay checks, make loans, or do any core banking business there.
  • •The commissioner can set extra rules the bank must follow.

Example

A bank from another state opens a small office in our state to help people exchange foreign currency and give financial advice.

The bank can run those services, but it can’t let people put their savings in the bank, can’t give out loans, and can’t write checks for customers at that office.

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

Official Source
View on CA.gov

§ 1715 Foreign Bank Noncore Business

An uninsured foreign (other state) bank that is licensed to maintain a facility may, subject to any regulations that the commissioner may prescribe, engage in any noncore banking business at the office but may not solicit deposits, receive deposits, pay checks, make loans, or otherwise conduct core banking business at the office. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

uninsured foreign banknoncore banking businesscore banking businesscommissioner

Related Statutes

  • § 1670 Banking Business Definitions
  • § 1711 Foreign Bank Facility Approval
  • § 1712 Foreign Bank Office Licensing
  • § 1716 Foreign Bank Office Closure
  • § 1717 Foreign Bank License Surrender

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 1715.
View Official Source