§ 1801 Foreign Bank Licensing Requirements

Financial Code·California

AI SummaryVerified

This law says a bank from another country can only have an office or branch in California if it is allowed to do regular business in the state like a local bank.

Key Takeaways

•Foreign banks need permission to open a branch or agency in California.
•They must meet the same state business qualifications as local banks.
•The rule applies before any license is granted.

Example

A Canadian bank wants to open a branch in California to serve customers there.

The bank must first be qualified to do business in California under the state's corporate rules before it can get a license to keep an office or branch there.

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

Official Source

View on CA.gov

§ 1801 Foreign Bank Licensing Requirements

No foreign (other nation) bank shall be licensed to maintain any agency or branch office unless it is qualified to transact intrastate business in this state under Chapter 21 (commencing with Section 2100) of Division 1 of Title 1 of the Corporations Code. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

foreign bank agency or branch office intrastate business Chapter 21 Corporations Code

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 1801.

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Key Takeaways

Example

Key Terms

Related Statutes

References