§ 18148 Branch Office Opening Deadline

Financial Code·California

AI SummaryVerified

This law says if a company gets permission to open a new office but doesn't do it within six months, they lose the right to open it. They can ask for more time if they have a good reason.

Key Takeaways

•Companies have six months to open a new office after getting approval.
•If they don't open it in time, they lose the right to open it.
•They can ask for more time if they have a good reason, but each extension is only up to six months.

Example

A bank gets approval to open a new branch in a neighborhood but doesn't start building it.

If the bank doesn't open the new branch within six months, they can't open it anymore unless they ask for more time and have a good reason.

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

Official Source

View on CA.gov

§ 18148 Branch Office Opening Deadline

The failure of an industrial loan company to open and operate a branch office within six months after the commissioner has issued an order approving the application for a branch office shall automatically terminate the right of the industrial loan company to open the branch office. However, the commissioner may for good cause on written application made before the expiration of the six months’ period, extend for additional periods, not in excess of six months each, the time within which the branch office may be opened. (Added by Stats. 1976, Ch. 964.)

Last verified: January 11, 2026

Key Terms

industrial loan company branch office commissioner six months good cause written application

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18148.

§ 18148 Branch Office Opening Deadline

Financial Code·California

AI SummaryVerified

§ 18148 Branch Office Opening Deadline

This law says if a company gets permission to open a new office but doesn't do it within six months, they lose the right to open it. They can ask for more time if they have a good reason.

Key Takeaways

•Companies have six months to open a new office after getting approval.
•If they don't open it in time, they lose the right to open it.
•They can ask for more time if they have a good reason, but each extension is only up to six months.

Example

A bank gets approval to open a new branch in a neighborhood but doesn't start building it.

If the bank doesn't open the new branch within six months, they can't open it anymore unless they ask for more time and have a good reason.

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

Official Source

View on CA.gov

§ 18148 Branch Office Opening Deadline

Last verified: January 11, 2026

Key Terms

industrial loan company branch office commissioner six months good cause written application

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18148.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References