§ 18674 Foreign Loan Company Relocation

• •If a company from another state wants to move its office in California, it must tell the state first.
• •The company has to send a report to the state at least 30 days before moving.
• •This rule only applies to certain types of companies (industrial loan companies).

A bank from New York wants to move its California office to a new building.

The bank must tell California’s commissioner at least 30 days before moving. If they don’t, they could get in trouble.