California § 57607. 57607. (Amended by Stats. 2022, Ch. 452, Sec. 191.)

California Statutes

§ 57607. — 57607. (Amended by Stats. 2022, Ch. 452, Sec. 191.)

California § 57607.

Code GOVGovernment Code - GOV

Div.5.

Title 5.DIVISION 5. Public Banks

This text of California § 57607. (57607. (Amended by Stats. 2022, Ch. 452, Sec. 191.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Government Code - GOV Code § 57607. (2026).

Text

(a)The Commissioner of Financial Protection and Innovation shall not issue more than two public bank licenses in a calendar year.

(b)The Commissioner of Financial Protection and Innovation shall not issue a public bank license if issuing that public bank license would cause there to be more than 10 public banks authorized to transact business pursuant to Division 1.1 (commencing with Section 1000) of the Financial Code.

(c)The Commissioner of Financial Protection and Innovation shall conduct a study of public banking in California within two years after the date upon which the commissioner issues the 10th public bank license.

(d)The Commissioner of Financial Protection and Innovation shall not issue a public bank license after the expiration of a period of seven years from the da

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(a)
The Commissioner of Financial Protection and Innovation shall not issue more than two public bank licenses in a calendar year.
(b)
The Commissioner of Financial Protection and Innovation shall not issue a public bank license if issuing that public bank license would cause there to be more than 10 public banks authorized to transact business pursuant to Division 1.1 (commencing with Section 1000) of the Financial Code.
(c)
The Commissioner of Financial Protection and Innovation shall conduct a study of public banking in California within two years after the date upon which the commissioner issues the 10th public bank license.
(d)
The
Commissioner of Financial Protection and Innovation shall not issue a public bank license after the expiration of a period of seven years from the date upon which the commissioner first promulgates regulations for the purpose of carrying out the commissioner’s duties under this division.

Legislative History

Amended by Stats. 2022, Ch. 452, Sec. 191. (SB 1498) Effective January 1, 2023.

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Bluebook (online)

California § 57607., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/GOV/57607..