reglab/housing_qa huggingface dataset:
CA Fin Code § 1495 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 3 - Loan Limits|Section 1495.

1495.  (a) A commercial bank may make amortized loans upon the security of residential real property to finance the purchase and installation of material or equipment designed to promote energy conservation or the efficient use of energy in the residential real property securing the loan, if all of the following apply:(1) The residential real property securing the loan consists of not more than four dwelling units.(2) The loan is made in connection with a concurrent loan authorized under Section 1486.(3) The loan is in an amount not to exceed 10 percent of the loan made under the authority of Section 1486.(b) A commercial bank may make additional advances, or additional loans, to an existing borrower in order to finance the purchase and installation of material and equipment designed to promote energy conservation or the efficient use of energy in the residential real property securing the loan, if all of the following apply:(1) The residential real property securing the loan consists of not more than four dwelling units.(2) The aggregate of the additional loan or advance and the unpaid balance of the existing loan will not exceed that percent of the appraised value of the residential real property securing the loan permitted by Section 1486 immediately after the purchase and installation of such material and equipment.(Amended by Stats. 2013, Ch. 334, Sec. 39. (SB 537) Effective January 1, 2014.)
CA Fin Code § 1496 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 3 - Loan Limits|Section 1496.

1496.  For the purpose of determining whether any loan or investment is secured by a first lien on real property as required by any provision of this division, none of the following shall be deemed a prior encumbrance unless any installment or payment thereunder, other than a rental or royalty under a lease, is due and delinquent:(a) The lien of any tax, assessment, or bond levied or issued by any state or territory of the United States or by any district, political subdivision, or municipal corporation thereof, except the lien of an assessment levied against a particular parcel of real property and of any bond given or issued pursuant to law in lieu of the payment of the assessment.(b) A lien created by a contract and given to secure the payment for water to be furnished under the contract for the irrigation of the real property or any part thereof.(c) A lease of the real property under which all rents or royalties are reserved to the owner.(d) The lien of a bond given or issued pursuant to law in lieu of the payment of an assessment levied against a particular parcel of real property and the lien of any assessment levied to pay that bond, if the unpaid balance of the bond and the amount of the loan or investment combined do not exceed the percentage of the sound market value of the real property permitted to be so loaned or invested by any provision of this division.(e) A lien given to secure the payment of any assessment or subscription to meet the requirements of any law of the United States in respect to any irrigation project of the United States in any state or territory of the United States which may be levied, made, or received by any corporation or association formed to carry out the provisions of that law, if the unpaid balance of the assessment or subscription and the amount of the loan or investment combined do not exceed the percentage of the sound market value of the real property permitted to be so loaned or invested by any provision of this division.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1497 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 3 - Loan Limits|Section 1497.

1497.  No loan made by any bank in excess of any limitations contained in this division or which is made in violation of any of the provisions of this division shall be invalid or illegal as to the lender for that reason, nor shall any loan made to any bank in excess of the amounts permitted by this division be invalid or illegal as to the lender for that reason.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1498 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 3 - Loan Limits|Section 1498.

1498.  (a) Any state-chartered bank that extends consumer credit to a covered borrower, as those terms are defined in Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Federal Regulations, as published on July 22, 2015, on page 43560 in Number 140 of Volume 80 of the Federal Register, shall comply with the applicable provisions of Section 987 of Title 10 of the United States Code, as amended by 126 Stat. 1785 (Public Law 112-239), and Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Federal Regulations, as amended on the date described above.(b) A state-chartered bank that does not market or extend consumer credit to covered borrowers, as those terms are defined under Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Federal Regulations, as amended on the date described in subdivision (a), shall not be in violation of Section 394 of the Military and Veterans Code.(Amended by Stats. 2017, Ch. 514, Sec. 1. (SB 266) Effective January 1, 2018.)
CA Fin Code § 1510 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 4 - Investments|Section 1510.

1510.  The total amount invested by a bank in the securities issued by a person shall not exceed 15 percent of the sum of the shareholders’ equity, allowance for loan and lease losses, capital notes and debentures of the bank, except:(a) Obligations of the United States and those for which the faith and credit of the United States are pledged for the payment of principal and interest.(b) Bonds, consolidated bonds, collateral trust debentures, or other obligations issued by the Federal Financing Bank, the United States Postal Service, federal land banks, or federal intermediate credit banks established under the Federal Farm Loan Act; in debentures and consolidated debentures issued by the Central Bank for Cooperatives and banks for cooperatives established under the Farm Credit Act of 1933; in consolidated notes, bonds, debentures, and other obligations issued by federal land banks, federal intermediate credit banks, and banks for cooperatives under the Farm Credit Act of 1971; in the bonds of any federal home loan bank established under the Federal Home Loan Bank Act; and in stock, bonds, debentures, participations, and other obligations of or issued by the Student Loan Marketing Association, the Federal National Mortgage Association, the Government National Mortgage Association, and the Federal Home Loan Mortgage Corporation.(c) Obligations of the State of California and those for which the credit of the State of California is pledged for the payment of principal and interest.(d) Obligations of a local agency or district of the State of California having the power, without limit as to rate or amount, to levy taxes to pay the principal and interest of the bonds upon all property within its boundaries subject to taxation by the local agency or district.(e) Capital stock of the Federal Reserve bank serving the district in which the bank is located.(f) Capital stock of a federal home loan bank in the manner provided in the Federal Home Loan Bank Act.(g) Capital stock of the Federal Deposit Insurance Corporation.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1511 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 4 - Investments|Section 1511.

1511.  Section 1510 shall not apply to investments made pursuant to this section. A bank may invest in shares of an investment company (1) registered with the Securities and Exchange Commission pursuant to the federal Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1 et seq.) and for which the shares are registered under the federal Securities Act of 1933 (15 U.S.C. Sec. 77a et seq.), and (2) the portfolio of which consists solely of the following:(a) Debt obligations in which a bank is permitted to invest without limitation pursuant to subdivision (a), (b), (c), or (d) of Section 1510 and repurchase agreements fully collateralized by those obligations.(b) Loans of federal funds and similar loans of unsecured day(s) funds, maturing in six months or less to institutions insured by the Federal Deposit Insurance Corporation Federal Funds. Loans under this subdivision are limited to transactions described in subsection (a) or (b) of Section 32.102 of Title 12 of the Code of Federal Regulations involving investment companies in which the entire beneficial interest is held exclusively by depository institutions, as permitted by Section 204.123 of Title 12 of the Code of Federal Regulations.(c) Cash or its equivalent.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1512 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 4 - Investments|Section 1512.

1512.  Notwithstanding Section 1510, a bank may purchase, acquire, or hold the stock of any corporation pursuant to a plan of reorganization approved by the commissioner by which all of the stock of one or more banks organized under the laws of this state shall be acquired and immediately reissued proportionately to the stockholders of the acquiring bank.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1513 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 4 - Investments|Section 1513.

1513.  If any commercial bank has made investments which it was authorized to make at the time they were made it shall not be required to dispose of such investments by reason of adoption of the Banking Code, this code, or any amendments to this article.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1514 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 4 - Investments|Section 1514.

1514.  A commercial bank may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of any investment company which has qualified to sell its securities in this state pursuant to Part 2 (commencing with Section 25100) of Division 1 of Title 4 of the Corporations Code, if the officers and employees of the bank who sell these securities meet such standards with respect to training, experience, and sales practices as established by the Secretary of Business, Consumer Services, and Housing or the secretary’s designee. For the purpose of this section, “investment company” means an investment company as defined in the Investment Company Act of 1940 (15 U.S.C., Sec. 80a-1 et seq.).(Amended by Stats. 2014, Ch. 401, Sec. 26. (AB 2763) Effective January 1, 2015.)
CA Fin Code § 1515 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 4 - Investments|Section 1515.

1515.  A bank or trust company may acquire stock in settlement or reduction of a loan or in exchange for an investment previously made in good faith where the acquisition of the stock is necessary in order to minimize or avoid loss arising out of the loan or investment. The limitation in Section 1510 shall not apply to the stock acquired in accordance with this section. Whenever any stock that is acquired in accordance with this section can be sold for an amount sufficient to reimburse the bank or trust company for all loss arising out of the loan for which the stock was security or arising out of the original investment by the bank or trust company, the bank or trust company shall sell the same or shall convert the stock to an investment subject to Section 1510.(Amended by Stats. 2013, Ch. 334, Sec. 40. (SB 537) Effective January 1, 2014.)
CA Fin Code § 1520 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 5 - Miscellaneous|Section 1520.

1520.  Whenever the public administrator becomes the administrator of the estate of a decedent who at the time of his death left money on deposit with a commercial bank, the public administrator may allow such deposit to remain in the commercial bank and may deposit therein to the account of the decedent any moneys of said estate not required for current expenses of administration, and in such cases the public administrator need not deposit the same with the county treasurer. Moneys so deposited, whether by the decedent or by the public administrator, may be withdrawn upon the order of the public administrator countersigned by a judge of the superior court when required for the purpose of administration or otherwise.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1521 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 5 - Miscellaneous|Section 1521.

1521.  A commercial bank accepting savings deposits shall provide by its bylaws or by contract with its savings depositors the time and condition on which repayment is to be made to such depositors. The bank shall not waive any requirement of notice before payment of any savings deposit except as to all savings deposits.Whenever there is any call by savings depositors for repayment of a greater amount than the bank may have disposable for that purpose, the bank must not make any new loan or investment until such excess call has ceased.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1522 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 14 - Loans and Investments|ARTICLE 5 - Miscellaneous|Section 1522.

1522.  For the purposes of any law authorizing or providing for the deposit of funds with a savings bank, a commercial bank accepting savings deposits shall be deemed a savings bank.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1530 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 15 - Industrial Banks|ARTICLE 1 - General Provisions|Section 1530.

1530.  Chapter 15 (commencing with Section 1530) is a restatement of Division 7 (commencing with Section 18000) as that division pertains to the licensing and regulation of industrial banks and to the insurance of deposits of industrial banks. Chapter 15 is a continuation, simplification, and recodification of the licensing and regulation of deposit-taking industrial banks.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1531 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 15 - Industrial Banks|ARTICLE 1 - General Provisions|Section 1531.

1531.  (a) Any reference in a provision of any statute or regulation of this state to banks or commercial banks includes industrial banks.(b) Subdivision (a) does not apply in any of the following cases:(1) In case the provision or a related provision expressly provides otherwise.(2) In the case of any provision of Division 1.6 (commencing with Section 4800) or this division.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1532 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 15 - Industrial Banks|ARTICLE 1 - General Provisions|Section 1532.

1532.  The Industrial Loan Account of the Financial Institutions Fund is renamed to be the Industrial Bank Account.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1540 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 15 - Industrial Banks|ARTICLE 2 - Industrial Bank Business|Section 1540.

1540.  Each industrial bank shall be an insured bank at all times while it is engaged in the industrial banking business.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1541 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 15 - Industrial Banks|ARTICLE 2 - Industrial Bank Business|Section 1541.

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.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1542 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 15 - Industrial Banks|ARTICLE 2 - Industrial Bank Business|Section 1542.

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 4.5 (commencing with Section 1090).(c) Chapter 5 (commencing with Section 1100).(d) Chapter 8 (commencing with Section 1280).(e) Chapter 10 (commencing with Section 1320).(f) Chapter 11 (commencing with Section 1380).(g) Chapter 12 (commencing with Section 1400).(h) Chapter 13 (commencing with Section 1450).(i) Chapter 14 (commencing with Section 1460).(j) Chapter 16 (commencing with Section 1550).(k) Chapter 17 (commencing with Section 1620).(l) Chapter 18 (commencing with Section 1660).(m) Chapter 19 (commencing with Section 1670).(n) Chapter 5 (commencing with Section 500) of Division 1.(o) Chapter 6 (commencing with Section 550) of Division 1.(p) Division 1.6 (commencing with Section 4800).(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1550 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 16 - Trust Companies|ARTICLE 1 - General Provisions|Section 1550.

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 business, or, if it is a bank, has received the authorization of the commissioner to engage in the trust business; and(c) It has deposited with the State Treasurer money or securities in compliance with Article 3 (commencing with Section 1570) of this chapter.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1551 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 16 - Trust Companies|ARTICLE 1 - General Provisions|Section 1551.

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 with and be governed by all of the provisions of this chapter, except the provisions of Section 1580. An application for such authorization shall be in such form and contain such information as the commissioner may require, and be accompanied by a fee of one thousand dollars ($1,000).(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1552 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 16 - Trust Companies|ARTICLE 1 - General Provisions|Section 1552.

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.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1553 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 16 - Trust Companies|ARTICLE 1 - General Provisions|Section 1553.

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 having a common lineal ancestor of not more than four generations distant, spouse, father-in-law, mother-in-law, sister-in-law, brother-in-law, stepparent, or stepchild.(b) Any member of the State Bar, as specified in Section 6002 of the Business and Professions Code, any certified public accountant, as defined in Section 5033 of the Business and Professions Code, and any professional corporation of one or more members of the State Bar or certified public accountants, where these professionals are acting as trustee of a trust established by them for their respective clients, provided that the member of the State Bar, certified public accountant, or professional corporation engages in no advertising for trust business in this state.(c) Subject to all applicable limitations and restrictions in law for nonprofit corporations, any nonprofit corporation acting as trustee incidental to the purposes for which it was organized.(d) Any person appointed as receiver, trustee, or other fiduciary by a court of competent jurisdiction acting pursuant to that authority.(e) Any person licensed as a professional fiduciary pursuant to Chapter 6 (commencing with Section 6500) of Division 3 of the Business and Professions Code.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
CA Fin Code § 1554 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1.1 - BANKING|CHAPTER 16 - Trust Companies|ARTICLE 1 - General Provisions|Section 1554.

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 with Section 1570) of this chapter and of all other laws of this state relating to the deposit of securities for the protection of court and private trusts. A subject national banking association may engage in and conduct a trust business and may be appointed by any court to act in any fiduciary capacity in which a trust company is authorized to act. All acts provided in this code to be performed by the commissioner, the State Treasurer, or other public officials for or in respect to the deposit of securities by trust companies, shall be performed for subject national banking associations equally with trust companies. Every subject national banking association shall be permitted to use the word “trust” in its corporate name and to advertise its authority to engage in and conduct a trust business and to advertise for and solicit trust business in this state, notwithstanding any contrary provision in this division or in any other law. The commissioner shall have access to reports of examination made by the Comptroller of the Currency insofar as they relate to the trust department of a subject national banking association. For purposes of Article 3 (commencing with Section 1570), the principal place of business of a national banking association that maintains its main office in another state of the United States and maintains a California branch office shall be deemed to be situated in the city where the California branch office is located or, if the national banking association maintains California branch offices in two or more cities, in the city with the largest population.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)