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Financial Code - FIN - FIN § 1578
Financial Code - FIN - FIN § 1578
The commissioner may, pursuant to Section 329, levy a civil penalty against any trust company that fails to comply with this article.
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Financial Code - FIN - FIN § 1580
Financial Code - FIN - FIN § 1580
A trust company may invest its contributed capital only in the securities and properties in which a commercial bank is permitted to invest its funds pursuant to Sections 800 to 819, inclusive, and in loans on real property which commercial banks are permitted to make pursuant to
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Financial Code - FIN - FIN § 1581
Financial Code - FIN - FIN § 1581
Trust funds received by any trust company in connection with its trust business, if invested, shall be invested as provided in Part 4 (commencing with Section 16000) of Division 9 of the Probate Code.
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Financial Code - FIN - FIN § 1582
Financial Code - FIN - FIN § 1582
(a) As used in this section: (1) “Fund” means any investment company registered under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1 et seq.), as amended from time to time. (2) “Trust” means any court trust or private trust. (3) “Trust Law” means Division 9 (commencing
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Financial Code - FIN - FIN § 1583
Financial Code - FIN - FIN § 1583
Any trust company or bank authorized to engage in the trust business holding trust funds awaiting investment or distribution may deposit or leave on deposit such funds with any state or national bank. Such funds shall not, however, be deposited or left with the same corporation o
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Financial Code - FIN - FIN § 1584
Financial Code - FIN - FIN § 1584
Any trust company acting in any capacity under a court or private trust or when acting in such capacity with one or more persons as cofiduciary or cofiduciaries, unless the instrument creating such trust contains a provision to the contrary, may, with the consent of such cofiduci
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Financial Code - FIN - FIN § 1585
Financial Code - FIN - FIN § 1585
(a) For purposes of this section, two or more trust companies shall be deemed to be affiliated if they are members of the same affiliated group, within the meaning of Section 1504 of the Internal Revenue Code. (b) Any trust company may establish and administer common trust funds
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Financial Code - FIN - FIN § 1586
Financial Code - FIN - FIN § 1586
With regard to any participation certificates heretofore issued by any trust company, secured by a trust deed or mortgage, the full legal title in the deed or mortgage and debt (referred to in this section as “security”) shall be held by the trust company issuing the certificates
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Financial Code - FIN - FIN § 159
Financial Code - FIN - FIN § 159
(a) “Confidential information” means any information regarding a licensee contained in, or related to, any of the following: (1) Applications filed with the commissioner. (2) Examination, operating, condition, or any other reports prepared by, on behalf of, or for the use of, the
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Financial Code - FIN - FIN § 1600
Financial Code - FIN - FIN § 1600
A trust company has the following powers: (a) It may act, or may be appointed by any court to act, in like manner as an individual, as executor, administrator, guardian or conservator of estates, assignee, receiver, depositary, trustee, custodian, or in any other fiduciary or rep
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Financial Code - FIN - FIN § 16000
Financial Code - FIN - FIN § 16000
This chapter may be cited as the “Foreign (Other State) Credit Union Law.”
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Financial Code - FIN - FIN § 16001
Financial Code - FIN - FIN § 16001
In this chapter: (a) “Branch business” means the business of issuing share accounts, certificates for funds, and share drafts, receiving deposits, paying checks, making loans and other obligations, and other activities that the commissioner may specify by order or regulation. (b)
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Financial Code - FIN - FIN § 16002
Financial Code - FIN - FIN § 16002
Nothing in this chapter shall be deemed to authorize a foreign (other nation) credit union to transact business in this state.
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Financial Code - FIN - FIN § 16003
Financial Code - FIN - FIN § 16003
No foreign (other state) credit union may establish or maintain a California branch office or California facility unless it is qualified to transact intrastate business under Chapter 21 (commencing with Section 2100) of Division 1 of Title 1 of the Corporations Code, except as pr
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Financial Code - FIN - FIN § 16004
Financial Code - FIN - FIN § 16004
No foreign (other state) credit union may establish a California branch office or California facility unless its deposit or share accounts are insured by the National Credit Union Administration or other insurer that is not unsatisfactory to the commissioner.
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Financial Code - FIN - FIN § 16005
Financial Code - FIN - FIN § 16005
Each application filed with the commissioner under this chapter or under any regulation or order issued under this chapter shall be in the form, shall contain the information, shall be signed in the manner, and shall (if the commissioner requires by regulation or order) be verifi
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Financial Code - FIN - FIN § 16006
Financial Code - FIN - FIN § 16006
Fees shall be paid to and collected by the commissioner as follows: (a) The fee for an application by a foreign (other state) credit union that is not licensed to transact business in this state for approval to establish a branch office is one thousand dollars ($1,000). (b) The f
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Financial Code - FIN - FIN § 16007
Financial Code - FIN - FIN § 16007
(a) Not less than 30 days before a foreign (other state) credit union establishes a California branch office or a California facility, the foreign (other state) credit union shall file with the commissioner, in the form that the commissioner may by regulation or order require, an
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Financial Code - FIN - FIN § 16008
Financial Code - FIN - FIN § 16008
In administering the provisions of this chapter, the commissioner may share information with federal and home state regulators of foreign (other state) credit unions.
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Financial Code - FIN - FIN § 16009
Financial Code - FIN - FIN § 16009
A foreign (other state) credit union that is licensed to establish an office shall post at a conspicuous place at the office a notice to the public which states the name of the foreign (other state) credit union, the type of office it is, and the state of the United States under
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Financial Code - FIN - FIN § 1601
Financial Code - FIN - FIN § 1601
For the purposes of this chapter, all trusts and other business permitted to be accepted or executed by a trust company are hereby classified and defined as either court trusts or private trusts. A “court trust” is one in which a trust company acts under appointment, order, or de
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Financial Code - FIN - FIN § 16010
Financial Code - FIN - FIN § 16010
No license shall be transferable or assignable.
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Financial Code - FIN - FIN § 16011
Financial Code - FIN - FIN § 16011
Whenever a foreign (other state) credit union is licensed to establish more than one office, it shall designate one of its offices as its primary office.
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Financial Code - FIN - FIN § 16012
Financial Code - FIN - FIN § 16012
Each foreign (other state) credit union that is licensed to establish an office shall conduct all of the business of the office in a single building or in adjoining buildings. However, with prior to notice to the commissioner, the foreign (other state) credit union may conduct pa