§ 1687. — 1687. (Added by Stats. 2011, Ch. 243, Sec. 3.)

California § 1687.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 1.1.: DIVISION 1.1. BANKING
• Ch. 19.: CHAPTER 19. Foreign (Other State) Banks
• Art. 2.: ARTICLE 2. California Branch Offices

Text

(a)
In case a foreign (other state) state bank that maintains a California branch office is a commercial bank, in addition to other provisions of this division and Division 1 (commencing with Section 99) that are otherwise applicable to the bank, the following provisions of this division apply to the bank with respect to its business in this state as if the bank were a California state commercial bank:
(1)
Chapter 10 (commencing with Section 1320).
(2)
Chapter 12 (commencing with Section 1400).
(3)
Chapter 13 (commencing with Section 1450).
(4)
Sections 1487, 1488, 1514, 1520, and 1522.
(5)
Chapter 17 (commencing with Section 1620).
(b)
In case a foreign (other state) state bank that maintains a California branch office is an industrial bank, in addition to other provisions of this division and Division 1 (commencing with Section 99) that are otherwise applicable to the bank, the provisions cited in paragraphs (1) to (7), inclusive, of subdivision (a) and the provisions of Chapter 15 (commencing with Section 1530) apply to the industrial bank with respect to its business in
this state as if the bank were a California state industrial bank.
(c)
In case a foreign (other state) state bank that maintains a California branch office is authorized pursuant to the law of its domicile to transact trust business, in addition to other provisions of this division and Division 1 (commencing with Section 99) that are otherwise applicable to the bank, the following provisions of Chapter 16 (commencing with Section 1550) apply to the bank with respect to its business in this state as if the bank were a California state bank authorized to transact trust business:
(1)
Article 3 (commencing with Section 1570). For purposes of Article 3 (commencing with Section 1570), the bank’s principal place of business is deemed to be situated in the city in which its California branch office is located or, if it maintains California branch offices in two or more cities, in the city
with the largest population.
(2)
Article 4 (commencing with Section 1580), except Section 1580.
(3)
Article 5 (commencing with Section 1600), except Sections 1583, 1584, 1585, 1588, and 1590.
(d)
Subject to the provisions of subdivision (d), in case a foreign (other state) state bank that maintains a California branch office is authorized pursuant to the law of its domicile to transact trust business, the bank may engage in and conduct trust business in this state and may be appointed by any court to act in any fiduciary capacity in which a California state trust company is authorized to act.
(e)
No foreign (other state) state bank that maintains a California branch office may transact at the branch office any business that it is not authorized to
transact or is prohibited from transacting under the law of its domicile or that banks organized under the laws of this state are not authorized to transact or are prohibited from transacting.
(f)
Whenever any provision of this chapter or of any regulation or order issued under this chapter that is applicable to or with respect to a foreign (other state) state bank that maintains a California branch office is inconsistent with any provision of any other chapter of this division, the former provision applies, and the latter provision does not apply.

Legislative History

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.