reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3155 - Information Regarding Proposed Business Plan

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Provide a business plan for the subject institution
						  which includes all of the following:
(a) Description of the market that the
						subject institution proposes to serve.
(b) Description of the services and products
						proposed to be offered by the subject institution.
(c) Analysis of the need for the services and
						products proposed to be offered by the subject institution.
(d) Description of competition in the
						proposed market of the subject institution, including the name of each other
						business which provides to the proposed market of the subject institution
						services and products that are similar to any of the principal services and
						products proposed to be offered by the subject institution.
(e) Description of how services and products
						of the subject institution will be marketed in consideration of the existing
						and anticipated competition.
(f)
						Analysis of the capital, financial, physical and human resources required by
						the subject institution to successfully implement the proposed business
						plan.
(g) In case any material
						element of the business plan is based on an assumption, a statement of the
						assumption, and the justification for the assumption.
1.
						  Amendment of section heading, repealer and new section, and new NOTE filed
						  4-7-97; operative 4-7-97 pursuant to Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
2. Amendment of section heading and repealer
						  and new section filed 4-14-98; operative 5-14-98 (Register 98, No.
						  16).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3156 - Information Regarding Proposed Market-Trust Business. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Amendment of section heading, repealer and new section, and new NOTE filed
						  4-7-97; operative 4-7-97 pursuant to Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
2. Repealer filed 4-14-98; operative 5-14-98
						  (Register 98, No. 16).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3157 - Information Regarding Marketing Plan-Commercial Banking Business. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Amendment of subsections (a)-(a)(3), repealer of subsections (a)(4)-(c), new
						  subsection (b) and new NOTE filed 4-7-97; operative 4-7-97 pursuant to
						  Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
2. Repealer filed 4-14-98; operative 5-14-98
						  (Register 98, No. 16).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3158 - Information Regarding Marketing Plan-Trust Business. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Amendment of subsection (b), repealer of subsections (b)(1)-(d), new subsection
						  (c) and new NOTE filed 4-7-97; operative 4-7-97 pursuant to Government Code
						  section
						  11343.4(d)
						  (Register 97, No. 15).
2. Repealer filed 4-14-98; operative 5-14-98
						  (Register 98, No. 16).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3159 - Information Regarding Proposed Board

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a table showing, with respect to
						each proposed director of the subject institution:
(1) Name.
(2) Business address.
(3) Home address.
(4) Age.
(5) Business or occupation.
(6) Amount of shares of the subject
						institution for which the proposed director and his consociates intend to
						subscribe.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3160 - Information Regarding Proposed Officers, Employees, and Advisers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a table
						showing, with respect to the proposed chief executive officer of the subject
						institution and, in case the subject institution is to be a commercial bank
						with trust department, the proposed senior trust officer, and any other
						proposed officer of the subject institution who has been selected:
(1) Name.
(2) Business address.
(3) Home address.
(4) Age.
(5) Business or occupation.
(6) Amount of shares of the subject
						institution for which the proposed officer and his consociates intend to
						subscribe.
(7) Proposed
						title.
(8) Proposed
						duties.
(9) Proposed annual
						salary.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3161 - Information Regarding Organizers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
State whether or not there is any organizer of the
						  subject institution who is neither a proposed director nor a proposed officer
						  of the subject institution, and, if so, with respect to each such
						  organizer:
(a) In case the organizer
						is an individual, state:
(1) Name.
(2) Business address.
(3) Home address.
(4) Business or occupation.
(5) Amount of shares of the subject
						institution for which the organizer and his consociates intend to
						subscribe.
(6) Whether or not the
						organizer intends to participate in the management or operation of the subject
						institution, and, if so, a description of such
						participation.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3162 - Information Regarding Proposed Controlling Persons and Proposed 25 Percent (Including Consociates) Equity Security Owners

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In this Section, "subject person," when
						used with respect to a subject institution, means:
(1) Any person who is proposed to control the
						subject institution (including, in case any such person consists of a group of
						persons acting in concert, each person who is a member of such group);
						or
(2) Any person (other than a
						proposed director, proposed officer, or proposed controlling person of the
						subject institution) who is proposed to be a 25 percent (including consociates)
						equity security owner of the subject institution.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3163 - Information Regarding Proposed Premises, Furniture, and Equipment

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) State whether
						or not it is proposed that the subject institution purchase, lease, or
						construct any real property in addition to the real property required for its
						proposed head office, and, if so, describe such additional real property, state
						how such additional real property is proposed to be used, and, if such
						additional real property is proposed to be leased, sold, or otherwise
						transferred to any person, state the name of such person and describe the terms
						of such lease, sale, or transfer.
(b) With respect to the premises where the
						head office of the subject institution is proposed to be located and any
						additional real property referred to in Subdivision (a) of this Section:
(1) In case it is proposed that the whole or
						any part of such property be purchased by the subject institution, identify the
						property to be purchased, describe any arrangements which have been made for
						the subject institution to purchase the property, state the purchase price,
						identify the source of funds with which the purchase price is proposed to be
						paid, and, if any of the purchase price is proposed to be financed, state the
						amount to be financed.
(2) In case
						it is proposed that the whole or any part of such property be leased by the
						subject institution, identify the property to be leased, describe any
						arrangements which have been made for the subject institution to lease the
						property, and summarize the terms of the proposed lease, including rent,
						commencement date, termination date, and options to renew or to
						purchase.
(3) In case it is
						proposed that the whole or any part of such property be constructed, identify
						the property to be constructed, describe any arrangements which have been made
						for the property to be constructed, state the proposed completion date of
						construction, state the cost of construction, identify the source of funds with
						which the cost of construction is proposed to be paid, and, if any of the cost
						of construction is proposed to be financed, state the amount to be
						financed.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3164 - Information Regarding Proposed Operations-Commercial Banking Business. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Repealer filed 4-7-97; operative 4-7-97 pursuant to Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3165 - Information Regarding Proposed Operations-Trust Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Describe the proposed policies and
						procedures of the subject institution relating to:
(1) Acceptance of fiduciary
						accounts.
(2) Initial and periodic
						review of fiduciary accounts.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3167 - Information Regarding Proposed Capitalization

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a pro forma statement of the
						shareholders' equity of the subject institution as of the date of commencement
						of business, showing:
(1) Authorized number
						of shares.
(2) Number of shares
						outstanding.
(3) Amount of
						contributed capital.
(4) Amount of
						retained earnings.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3168 - Information Regarding PRO Forma Financial Statements-Commercial Banking Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
						Provide a pro forma balance sheet of the subject institution as of the end of
						the first half-year of business, as of the end of the first year of business,
						and as of the end of the second year of business.
(b) Provide a pro forma statement of income
						and a pro forma statement of shareholder's equity of the subject institution
						for the first half-year of business, for the first year of business, and for
						the second year of business.
(c)
						Explain the basis for the pro forma statements called for in this
						Section.
1.
						  Amendment of subsection (a), repealer of subsections (a)(1)-(a)(14), amendment
						  of subsection (b), repealer of subsections (b)(1)-(c)(4), subsection
						  relettering, and new NOTE filed 4-7-97; operative 4-7-97 pursuant to Government
						  Code section
						  11343.4(d)
						  (Register 97, No. 15).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3169 - Information Regarding PRO Forma Financial Statements-Trust Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a pro
						forma fiduciary statement of the subject institution as of the first half-year
						of business, as of the end of the first year of business, and as of the end of
						the second year of business, stating, with respect to each of the following
						types of fiduciary accounts, the number of such fiduciary accounts and the
						market value of the assets of such fiduciary accounts:
(1) Court trusts.
(2) Personal living trusts.
(3) Employee benefit trusts.
(4) Managing agency accounts.
(5) Safekeeping, custodian, nonmanaging
						agency, and escrow accounts.
(6)
						Corporate accounts.
(7) Local
						agency security accounts.
(8) Other
						fiduciary accounts.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3170 - Information Regarding Effects on Competition-Commercial Banking Business. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Change without regulatory effect amending section filed 7-2-91 pursuant to
						  section 100, title 1, California Code of
						  Regulations (Register 91, No. 40).
2. Repealer filed 4-7-97;
						  operative 4-7-97 pursuant to Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3171 - Information Regarding Effects on Competition-Trust Business. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Repealer filed 4-7-97; operative 4-7-97 pursuant to Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3172 - Information Regarding Public Convenience and Advantage-Commercial Banking Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Show that the establishment of the subject institution
						  will promote the public convenience and advantage.
1.
						  Amendment of first paragraph, repealer oif subsections (a)-(e) and new NOTE
						  filed 4-7-97; operative 4-7-97 pursuant to Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3173 - Information Regarding Public Convenience and Advantage-Trust Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Show that the establishment of the subject institution
						  will promote the public convenience and advantage. Such showing shall include
						  the following:
(a) Comment on the
						adequacy of existing trust services.
(b) Cite any factors which make it
						inconvenient or impractical for existing trust administration offices of trust
						companies to provide trust services adequately.
(c) Specify any trust services which are not
						provided or which are only inadequately provided by existing trust
						administration offices of trust companies.
(d) State the reasons why additional trust
						services are needed.
(e) Describe
						the manner in which the subject institution proposes to respond to existing
						trust needs.
1.
						  Amendment of section and new NOTE filed 4-7-97; operative 4-7-97 pursuant to
						  Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3174 - Information Regarding Reasonable Promise of Successful Operation. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Amendment of section heading and first paragraph, repealer of subsections (a)
						  and (b) and new NOTE filed 4-7-97; operative 4-7-97 pursuant to Government Code
						  section
						  11343.4(d)
						  (Register 97, No. 15).
2. Repealer filed 4-14-98; operative 5-14-98
						  (Register 98, No. 16).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3175 - Information Regarding Reasonable Promise of Successful Operation-Trust Business. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Repealer filed 4-7-97; operative 4-7-97 pursuant to Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3176 - Information Regarding Proposed Membership in Federal Reserve System

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
State whether or not it is proposed that the subject
						  institution be a member bank.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3177 - Information Regarding Purposes of Applicants

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) State the reasons why the applicants wish
						to establish the subject institution.
(b) State whether or not it is proposed that
						the subject institution be merged or consolidated with any other bank or that
						the business of the subject institution be sold to any other bank, and, if so,
						describe such proposal.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3178 - Information Regarding Assistance in Preparation of Application. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Repealer filed 4-7-97; operative 4-7-97 pursuant to Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3179 - Signature and Acknowledgment

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An application for authority to organize
						a subject institution shall be signed at the places provided on the facing page
						personally by each of the applicants and, in the case of any applicant which is
						a corporation, in the name of such corporation.
(b) The signature of each applicant on an
						application for authority to organize a subject institution shall be
						acknowledged.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3180 - Fee

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application for authority to organize a subject
						  institution shall be accompanied by the fee prescribed in Financial Code
						  Section
						  360.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 2 - Application › Section 10.3181 - Amendment

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An amendment to an application for authority to
						  organize a subject institution shall be signed by the person designated in such
						  application as the representative of the applicants. However, any amendment to
						  an application for authority to organize a subject institution which changes
						  the representative of the applicants shall be signed, and the signatures
						  acknowledged, in like manner as is required by Section
						  10.3179 of this Chapter in the
						  case of an original application.
1.
						  Amendment of section and new NOTE filed 4-7-97; operative 4-7-97 pursuant to
						  Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 360,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 3 - Administrative Standards and Procedures › Section 10.3300 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Part contains regulations which set forth
						  administrative standards and procedures relating to an application for
						  authority to organize a subject institution.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 3 - Administrative Standards and Procedures › Section 10.3301 - Incomplete Application

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
As an administrative procedure, the Commissioner
						  generally will reject for filing any application for authority to organize a
						  subject institution which is not substantially complete.
1.
						  Change without regulatory effect amending section and adding new NOTE filed
						  8-19-97 pursuant to section
						  100, title 1, California Code of
						  Regulations (Register 97, No. 34).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 362,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 3 - Administrative Standards and Procedures › Section 10.3301.1 - Reasonable Promise of Successful Operation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In evaluating an application for authority to organize
						  and establish a corporation to engage in the banking or trust business,
						  Financial Code section
						  1023
						  requires the commissioner to ascertain whether a proposed applicant will have a
						  reasonable promise of successful operation. As an administrative standard,
						  reasonable promise of successful operation is evaluated by the likelihood of
						  achieving the goals laid out in the applicant's financial projections, such as
						  financial stability, solvency, and reserves.
1. New
						  section filed 9-14-2021; operative 1-1-2022 (Register 2021, No.
						  38).
Note: Authority cited: Section
							 326,
							 Financial Code. Reference: Section
							 1023,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 3 - Administrative Standards and Procedures › Section 10.3302 - Shareholders' Equity

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
As an administrative standard, the Commissioner
						  generally requires that, at the time when a subject institution which is a
						  commercial bank commences business, the shareholders' equity of such subject
						  institution be not less than 10% of estimated total deposits of the subject
						  institution as of the end of the third year of business.
1.
						  Change without regulatory effect amending section and adding new NOTE filed
						  8-19-97 pursuant to section
						  100, title 1, California Code of
						  Regulations (Register 97, No. 34).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 362,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 1 - General Provisions › Section 10.3350 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Part contains regulations relating to the
							 pre-incorporation period in the establishment of a subject institution. This
							 Subpart contains general provisions relating to pre-incorporation period in the
							 establishment of a subject institution. Subpart 2 (commencing with Section
							 10.3375) of this Part contains
							 regulations relating to the offer and sale, before a subject institution is
							 incorporated, of securities to be issued by such subject institution and of
							 rights or options to subscribe for or purchase such securities. Subpart 3
							 (commencing with Section
							 10.3400) of this Part contains
							 regulations relating to the solicitation and acceptance, before a subject
							 institution is incorporated, of pre-opening funds for such proposed subject
							 institution. Subpart 4 (commencing with Section
							 10.3425) of this Part contains
							 regulations relating to other matters in the pre-incorporation period in the
							 establishment of a subject institution.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 2 - Pre-Incorporation Offer and Sale of Securities › Section 10.3375 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) This Subpart
						  contains regulations relating to the offer and sale, before a subject
						  institution is incorporated, of securities to be issued by such subject
						  institution and of rights or options to subscribe for or purchase such
						  securities.
(b) Nothing in this
						  Subpart shall affect the Corporate Securities Law of 1968 (Division 1
						  (commencing with Section
						  25000), Title 4 of the
						  Corporations Code) or any regulation adopted pursuant thereto.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 2 - Pre-Incorporation Offer and Sale of Securities › Section 10.3376 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In this Subpart:
(a) "Offer" or "offer to sell" has the
						  meaning set forth in Financial Code Section
						  1200(a).
(b) "Sale" or "sell" has the meaning set
						  forth in Financial Code Section
						  1200(b).
(c) "Security" has the meaning set forth in
						  Financial Code Section
						  1200(c).
1.
							 Change without regulatory effect amending section and adding NOTE filed
							 8-21-2019 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 2019, No. 34).
Note: Authority cited: Section
								326,
								Financial Code. Reference: Section
								1200,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 2 - Pre-Incorporation Offer and Sale of Securities › Section 10.3377 - Requirement of Permit

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Except as otherwise provided in Section
							 10.3378 of this Chapter, no
							 proposed director, proposed officer, or organizer of a proposed subject
							 institution shall offer or sell any security to be issued by such subject
							 institution or any right or option to subscribe for or purchase any such
							 security unless the Superintendent has issued a permit authorizing such offer
							 or sale.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 2 - Pre-Incorporation Offer and Sale of Securities › Section 10.3378 - Exemptions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There are hereby exempted from the provisions of
							 Section 10.3377 of this Chapter and, to
							 the extent applicable, the provisions of Financial Code Section
							 1201 as not
							 being comprehended within the purposes of Section
							 10.3377 of this Chapter or of
							 Financial Code Section
							 1201 and
							 the regulation of which is not necessary or appropriate in the public interest
							 or for the protection of investors, the following transactions and
							 securities:
(a) The offer (but not the
						  sale) by a proposed director, proposed officer, or organizer of a proposed
						  subject institution to any proposed director, proposed officer, or organizer of
						  such proposed subject institution of any security to be issued by the subject
						  institution or of any right or option to subscribe for or purchase any such
						  security, provided:
(1) No advertisement
						  shall be published regarding the security or such right or option.
(2) No consideration for the security or the
						  right or option shall be accepted.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 2 - Pre-Incorporation Offer and Sale of Securities › Section 10.3379 - Application for Permit

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application for a permit authorizing the offer or
							 sale by a proposed director, proposed officer, or organizer of a proposed
							 subject institution of a security to be issued by such subject institution or
							 of a right or option to subscribe for or purchase any such security shall
							 contain:
(a) Name of the proposed
						  subject institution.
(b) Address or
						  vicinity of the proposed head office of the proposed subject
						  institution.
(c) Name, address,
						  business or occupation, and proposed title of each of the proposed directors,
						  proposed officers, and organizers of the proposed subject
						  institution.
(d) Description of the
						  security or of the right or option to be offered or sold.
(e) Description of the terms and conditions
						  of the offer or sale.
(f)
						  Description of the manner in which the offer or sale is to be made.
(g) Description of the persons to whom the
						  offer or sale is to be made, including:
(1)
						  In case the offer or sale is to be made to specified persons, the name,
						  address, and business or occupation of each such specified person.
(2) In case the offer or sale is to be made
						  to a specified class of persons, a description of such specified class and the
						  approximate number of persons in the specified class.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 2 - Pre-Incorporation Offer and Sale of Securities › Section 10.3380 - Administrative Standards

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
						  As an administrative standard, if the Commissioner finds that the proposed
						  offer or sale by a proposed director, proposed officer, or organizer of a
						  proposed subject institution of securities to be issued by such subject
						  institution or of rights or options to subscribe for or purchase such
						  securities is fair, just, and equitable, he will grant an application for a
						  permit authorizing such offer or sale, such permit; if the Commissioner finds
						  otherwise, he will deny the application.
(b) As an administrative standard, the
						  Commissioner generally will not grant an application for a permit authorizing
						  an unrestricted public offer or unrestricted public sale by a proposed
						  director, proposed officer, or organizer of a proposed subject institution of
						  securities to be issued by such subject institution or of rights or options to
						  subscribe for or purchase such securities.
(c) As an administrative standard, the
						  Commissioner generally will grant an application for a permit authorizing the
						  offer (but not the sale) by a proposed director, proposed officer, or organizer
						  of a proposed subject institution of securities to be issued by such subject
						  institution, provided that such offer is limited to soliciting, in the proposed
						  service area of the subject institution or among an appropriate class of
						  persons, nonbinding indications of interest in subscribing for such
						  securities.
1.
							 Change without regulatory effect amending section and adding new NOTE filed
							 8-19-97 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								693,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 3 - Pre-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3400 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) This Subpart
						  contains regulations relating to the solicitation and acceptance, before a
						  subject institution is incorporated, of pre-opening funds for such proposed
						  subject institution.
(b) This
						  Subpart does not apply to any offer or sale by a subject institution, after
						  incorporation, of any security issued by it under authority of a permit or of
						  an exemption from Financial Code Section
						  1201 issued
						  by the Commissioner or the proceeds of any such sale.
(c) This Subpart does not apply in any case
						  where pre-opening funds for a proposed subject institution are provided
						  exclusively by an organizer of such proposed subject institution which is a
						  bank, a registered bank holding company, or a person which will be required to
						  become a registered bank holding company on account of the establishment of the
						  proposed subject institution.
(d)
						  Nothing in this Subpart shall affect the Corporate Securities Law of 1968
						  (Division 1 (commencing with Section
						  25000), Title 4 of the
						  Corporations Code) or any regulation adopted pursuant thereto.
1.
							 Change without regulatory effect amending section and adding new NOTE filed
							 8-19-97 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
2. Change without regulatory
							 effect amending subsection (b) and NOTE filed 8-21-2019 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 2019, No. 34).
Note: Authority cited: Section
								326,
								Financial Code. Reference: Sections
								321,
								326 and
								334,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 3 - Pre-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3401 - Requirement of Approval

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Except as otherwise provided in Section
							 10.3402 of this Chapter, no
							 proposed director, proposed officer, or organizer of a proposed subject
							 institution shall solicit or accept pre-opening funds for such proposed subject
							 institution from any person unless the Commissioner has approved such
							 solicitation and acceptance.
1.
							 Change without regulatory effect amending section and adding new NOTE filed
							 8-19-97 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
Note: Authority cited: Section
								215,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 4 - Establishment of California State Banks › Subarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company › Part 4 - Pre-Incorporation Matters › Subpart 3 - Pre-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3403 - Application for Approval

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application by a proposed director, proposed
							 officer, or organizer of a proposed subject institution for approval to solicit
							 and accept pre-opening funds for such proposed subject institution shall
							 contain:
(a) Name of the proposed
						  subject institution.
(b) Address or
						  vicinity of the proposed head office of the proposed subject
						  institution.
(c) Name, address,
						  business or occupation, and proposed title of each of the proposed directors,
						  proposed officers, and organizers of the proposed subject
						  institution.
(d) Amount of
						  pre-opening funds to be solicited and accepted.
(e) Description of the terms and conditions
						  under which pre-opening funds are to be solicited and accepted.
(f) Description of the manner in which
						  pre-opening funds are to be solicited and accepted.
(g) Description of the persons from whom
						  pre-opening funds are to be solicited and accepted, including:
(1) In case pre-opening funds are to be
						  solicited and accepted from specified persons, the name, address, and business
						  or occupation of each such specified person.
(2) In case pre-opening funds are to be
						  solicited and accepted from a specified class of persons, a description of such
						  specified class and the approximate number of persons in the specified
						  class.