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Financial Code - FIN - FIN § 1541
Financial Code - FIN - FIN § 1541
Subject to any order or regulation of the commissioner, an industrial bank may accept deposits evidenced by a deposit account or by certificates, that are redeemable prior to their stated maturity, but may not accept demand deposits.
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Financial Code - FIN - FIN § 1542
Financial Code - FIN - FIN § 1542
In addition to other provisions of this division that are otherwise applicable to an industrial bank, the following provisions of this division apply to the industrial bank as if it were a California state commercial bank: (a) Chapter 4 (commencing with Section 1070). (b) Chapter
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Financial Code - FIN - FIN § 15450
Financial Code - FIN - FIN § 15450
Central credit unions may be organized and operated under this division. Each such credit union shall use the word “central” in its official name.
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Financial Code - FIN - FIN § 15451
Financial Code - FIN - FIN § 15451
(a) A central credit union may, with the approval of the commissioner and under such regulations as he shall prescribe, admit to membership groups of employees of a common employer, including the employer, whose place of employment is located within 25 miles of the principal offi
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Financial Code - FIN - FIN § 155
Financial Code - FIN - FIN § 155
“Certificate of revocation” means a certificate executed and filed with the Secretary of State pursuant to the second and third sentences of subdivision (c) of Section 110 of the Corporations Code, subject, however, to the provisions of Section 1106.
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Financial Code - FIN - FIN § 1550
Financial Code - FIN - FIN § 1550
No corporation shall engage in the trust business unless: (a) Its articles comply with the requirements of subdivision (b), (d), or (e) of Section 1100; and (b) It has received from the commissioner a certificate of authority pursuant to Section 1042 to engage in the trust busine
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Financial Code - FIN - FIN § 1551
Financial Code - FIN - FIN § 1551
Any commercial bank or industrial bank, with the prior authorization of the commissioner, may engage in the trust business, if its articles comply with the requirements of subdivision (b) of Section 1100. Any bank so authorized shall, in the conduct of its trust business, comply
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Financial Code - FIN - FIN § 1552
Financial Code - FIN - FIN § 1552
No California state bank may engage in trust business at a place unless the place is its head office, an authorized branch office, or an authorized place of business.
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Financial Code - FIN - FIN § 1553
Financial Code - FIN - FIN § 1553
The following persons are exempt from Section 1550: (a) Any natural person serving as trustee of one or more trusts where at least one trustor is a family member of that trustee. For purposes of this section, “family member” means any lineal ancestor, lineal descendant, person ha
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Financial Code - FIN - FIN § 1554
Financial Code - FIN - FIN § 1554
In this section, “subject national banking association” means a national banking association that (a) maintains its main office or a branch office in this state, (b) is authorized to transact a trust business, and (c) has complied with the requirements of Article 3 (commencing wi
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Financial Code - FIN - FIN § 1555
Financial Code - FIN - FIN § 1555
No foreign corporation, other than a national banking association or a foreign (other state) state bank that is authorized to conduct a trust business in this state, shall have or exercise the powers of a trust company nor directly or indirectly transact or conduct in this state
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Financial Code - FIN - FIN § 1556
Financial Code - FIN - FIN § 1556
Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligations of, loans made or arranged by, or forbeara
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Financial Code - FIN - FIN § 1557
Financial Code - FIN - FIN § 1557
The Legislature finds and declares that it is important to inform taxpayers that they may make voluntary contributions to certain funds or programs, as provided on the state income tax return. The Legislature further finds and declares that many taxpayers remain unaware of the vo
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Financial Code - FIN - FIN § 1560
Financial Code - FIN - FIN § 1560
It is the intent of the Legislature that the provisions of this article, insofar as they are contained in the regulations regarding fiduciary activities of national banks (Part 9 (commencing with Section 9.1) of Title 12 of the Code of Federal Regulations) of the Office of the Co
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Financial Code - FIN - FIN § 1561
Financial Code - FIN - FIN § 1561
For purposes of Section 1562, the following terms have the following meanings: (a) “Bank” means any of the following: (1) A commercial bank, industrial bank, or trust company incorporated under the laws of this state. (2) A foreign (other state) bank that may establish a branch o
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Financial Code - FIN - FIN § 1562
Financial Code - FIN - FIN § 1562
(a) Sections 9.4 to 9.6, inclusive, Sections 9.8 to 9.15, inclusive, and Sections 9.18 to 9.101, inclusive, of the Fiduciary Regulations in all of their particular, including footnotes, are hereby referred to, incorporated by reference into this article, and adopted. (b) All refe
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Financial Code - FIN - FIN § 157
Financial Code - FIN - FIN § 157
“Common shares” has the meaning set forth in Section 159 of the Corporations Code.
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Financial Code - FIN - FIN § 1570
Financial Code - FIN - FIN § 1570
Every trust company shall deposit with the State Treasurer money or securities of the character described in Section 1572 as security for its court and private trusts as follows: (a) If the trust company’s principal place of business is situated in a city the population of which
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Financial Code - FIN - FIN § 1571
Financial Code - FIN - FIN § 1571
Whenever any trust company receives trust funds or property, other than real property, from court trusts accepted by it to the amount of one million dollars ($1,000,000), it shall forthwith give the commissioner written notice thereof, and within 30 days thereafter shall make an
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Financial Code - FIN - FIN § 1572
Financial Code - FIN - FIN § 1572
Security deposited with the Treasurer by trust companies pursuant to Section 1570 or 1571 shall consist of the following: (a) Bonds or other interest-bearing notes or obligations of the United States or those for which the faith and credit of the United States are pledged for the
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Financial Code - FIN - FIN § 1573
Financial Code - FIN - FIN § 1573
Such money or securities shall be approved by the commissioner and be deposited with the Treasurer upon the written order of the commissioner. Upon receiving any such deposit the Treasurer shall give his or her receipt therefor and thereafter subject to the provisions of this cha
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Financial Code - FIN - FIN § 1574
Financial Code - FIN - FIN § 1574
Securities deposited pursuant to this article may be exchanged from time to time, with the approval of the commissioner, for other like securities of equal market value. Upon written request to the commissioner, any trust company shall be entitled to withdraw from the Treasurer,
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Financial Code - FIN - FIN § 1575
Financial Code - FIN - FIN § 1575
Should any security deposited pursuant to this article so depreciate in value as to reduce the deposit below the amount required by this article, additional money or securities shall be deposited promptly in amount sufficient to meet such requirements. The commissioner may make a
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Financial Code - FIN - FIN § 1576
Financial Code - FIN - FIN § 1576
When any revaluation of securities is made by the commissioner pursuant to Section 1575, other than at the time such securities are presented for deposit, United States Government securities having a maturity date less than five years from the date of such revaluation shall be va
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Financial Code - FIN - FIN § 1577
Financial Code - FIN - FIN § 1577
The money and securities deposited pursuant to this article shall be subject to sale and the same or the proceeds thereof shall be subject to disposal by the State Treasurer only on the order of a court of competent jurisdiction and for the benefit respectively of the beneficiari