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 4 - Pre-Incorporation Matters › Subpart 3 - Pre-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3404 - 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
						  solicitation and acceptance by a proposed director, proposed officer, or
						  organizer of a proposed subject institution of pre-opening funds for such
						  proposed subject institution is fair, just, and equitable, he will grant an
						  application for approval of such solicitation and acceptance, subject to such
						  terms and conditions as he may provide in such approval; if the Commissioner
						  finds otherwise, he will deny the application.
(b) As an administrative standard, the
						  Commissioner generally will not grant an application for approval for a
						  proposed director, proposed officer, or organizer of a proposed subject
						  institution to solicit and accept pre-opening funds for such proposed subject
						  institution from the public on an unrestricted basis.
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 10.3405 - Account

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Any pre-opening
						  funds for a proposed subject institution accepted by a proposed director,
						  proposed officer, or organizer of such proposed subject institution shall, upon
						  acceptance, be deposited in a deposit account with a California commercial
						  bank. No other funds shall be deposited in such account.
(b) No funds shall be withdrawn from a
						  pre-incorporation pre-opening funds account for a proposed subject institution
						  except:
(1) Upon the order of the manager of
						  such account; and
(2) For the
						  purpose of paying pre-opening expenditures of such proposed subject institution
						  or in accordance with the provisions of Section
						  10.3408 of this
						  Chapter.
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 10.3406 - Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The manager of
						  a pre-incorporation pre-opening funds account shall keep and maintain records
						  containing:
(1) With respect to each deposit
						  to the account:
(A) Date of
						  deposit.
(B) Amount of money
						  deposited.
(C) Name of person from
						  whom such money was 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 3 - Pre-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3407 - Reports

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
On or before the 15th day of each calendar quarter,
							 commencing with the calendar quarter after pre-opening funds for a proposed
							 subject institution are first accepted by a proposed director, proposed
							 officer, or organizer of such proposed subject institution and continuing until
							 the pre-incorporation pre-opening funds account for the proposed subject
							 institution is closed in accordance with the provisions of Section
							 10.3408 of this Chapter, the
							 manager of such account shall file with the Commissioner a report stating, with
							 respect to the last calendar quarter:
(1) Opening balance of the account.
(2) Total amount deposited in the account
						  during the calendar quarter.
(3)
						  Total amount disbursed from the account during the calendar quarter.
(4) Closing balance of the account.
1.
							 Amendment of subsection (a)(5) and new NOTE filed 4-7-97; operative 4-7-97
							 pursuant to Government Code section
							 11343.4(d)
							 (Register 97, No. 15).
2. Change without regulatory effect amending
							 section filed 8-19-97 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
3. Amendment of section and NOTE
							 filed 4-14-98; operative 5-14-98 (Register 98, No.
							 16).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								350,
								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 10.3408 - Disposition

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In case an
						  application for authority to organize a subject institution is approved by the
						  Commissioner and such proposed subject institution is incorporated, the balance
						  of the pre-incorporation pre-opening funds account for the proposed subject
						  institution may be transferred to the post-incorporation pre-opening funds
						  account of the subject institution.
(b) In case an application for authority to
						  organize a subject institution is not filed with the Commissioner within nine
						  months after pre-opening funds for such proposed subject institution are first
						  accepted by a proposed director, proposed officer, or organizer of the proposed
						  subject institution, or in case an application for authority to organize a
						  subject institution filed with the Commissioner within such time is denied by
						  the Commissioner and a reapplication for authority to organize such subject
						  institution is not filed with the Commissioner within 90 days after such
						  denial, or in case an application for authority to organize a subject
						  institution is approved by the Commissioner and such proposed subject
						  institution is incorporated but the balance of the pre-incorporation
						  pre-opening funds account for the proposed subject institution is not, within
						  90 days after such incorporation, transferred to the post-incorporation
						  pre-opening funds account of the subject institution, the manager of the
						  pre-incorporation pre-opening funds account for the proposed subject
						  institution shall, after making all disbursements authorized under the terms of
						  agreements with persons from whom pre-opening funds for the proposed subject
						  institution were accepted, including the agreements called for in Section
						  10.3402(a)(3) of
						  this Chapter, if applicable, pay the balance of such account on a pro rata
						  basis to the persons from whom pre-opening funds for the proposed subject
						  institution have been accepted by the proposed directors, proposed officers, or
						  organizers of the proposed subject institution and, after making such payments,
						  close the account.
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 4 - Other Pre-Incorporation Matters › Section 10.3425 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subpart contains regulations relating to matters
							 (other than matters relating to offer and sale of securities and solicitation
							 and acceptance of pre-opening funds) 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 4 - Other Pre-Incorporation Matters › Section 10.3426 - Name

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
No proposed director, proposed officer, or organizer
							 of a proposed subject institution shall use the name of such proposed subject
							 institution in any document unless the designation "Proposed" is appended to
							 such name.
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 4 - Other Pre-Incorporation Matters › Section 10.3427 - Advertisements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An application
						  for authority to organize a subject institution shall contain a copy of each
						  advertisement regarding such proposed subject institution which is published
						  before the time when such application is filed.
(b) Whenever, at any time after an
						  application for authority to organize a subject institution is filed, any
						  proposed director, proposed officer, or organizer of such proposed subject
						  institution publishes an advertisement regarding the proposed subject
						  institution, he shall, before or concurrently with such publication, serve a
						  copy of such advertisement on the Commissioner.
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 4 - Other Pre-Incorporation Matters › Section 10.3428 - Articles

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Promptly after an application for authority to
							 organize a subject institution is approved by the Commissioner, the applicants
							 shall file with the Commissioner an application for approval of the articles of
							 such subject institution.
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).
2. Change without regulatory effect amending
							 section 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
								400,
								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 5 - Post-Incorporation Matters › Subpart 1 - General Provisions › Section 10.3450 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Part contains regulations relating to the
							 post-incorporation period in the establishment of a subject institution. This
							 Subpart contains general provisions relating to the post-incorporation period
							 in the establishment of a subject institution. Subpart 2 (commencing with
							 Section 10.3475) of this Part contains
							 regulations relating to the solicitation and acceptance by a subject
							 institution, after incorporation, of pre--opening funds. Subpart 3 (commencing
							 with Section
							 10.3500) of this Part contains
							 regulations relating to other matters in the post--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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3475 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) This Subpart
						  contains regulations relating to the solicitation and acceptance by a subject
						  institution, after incorporation, of pre-opening funds.
(b) Nothing in this Subpart shall apply to or
						  affect 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 subject institution are provided exclusively by
						  an organizer of such 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 subject
						  institution.
(d) Nothing in this
						  Subpart shall affect the Corporate Securities Law of 1968 (Division 1
						  (commencing with Section
						  25000), Title 4 of 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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3476 - Requirement of Approval

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Except as otherwise provided in Section
							 10.3477 of this Chapter, no
							 subject institution shall solicit or accept pre-opening funds 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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3477 - Exemptions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There are hereby exempted from the provisions of
							 Section 10.3476 of this Chapter as not
							 being comprehended within the purposes of Section
							 10.3476 of this Chapter and the
							 regulation of which is not necessary or appropriate in the public interest or
							 for the protection of the public, the following transactions:
(a) The solicitation and acceptance by a
						  subject institution from any director, officer, or organizer of such subject
						  institution of pre-opening funds, provided:
(1) No advertisement shall be published
						  regarding the solicitation or acceptance of pre-opening funds.
(2) The total number of persons from whom
						  pre-opening funds are accepted by the subject institution, together with the
						  total number of persons from whom pre-opening funds were accepted before
						  incorporation of the subject institution by a then proposed director, proposed
						  officer, or organizer of the then proposed subject institution, shall not
						  exceed 25.
(3) No pre-opening funds
						  shall be accepted from any person except pursuant to a written agreement which
						  shall provide:
(A) Terms under which the
						  pre-opening funds are accepted.
(B)
						  Terms under which the pre-opening funds shall be held, including the name of
						  the California commercial bank in which such money is to be deposited in
						  accordance with Section
						  10.3480 of this Chapter.
(C) Terms under which the pre-opening funds
						  shall be disbursed, including a provision that the pre-opening funds shall be
						  expended only for the purpose of paying pre-opening expenditures of the subject
						  institution.
(D) Terms under which
						  the pre-opening funds shall be repaid.
(E) That the pre-opening funds, if expended
						  for the purpose of paying pre-opening expenditures of the subject institution,
						  may not be repaid unless, among other contingencies, the subject institution is
						  organized and is issued a certificate of authority to transact commercial
						  banking business, trust business, or both, as the case may be, the subject
						  institution, in case it is a commercial bank, becomes an insured bank, and
						  pre-opening noncapital expenditures are approved by the Commissioner; and that
						  no assurance can be given that any of the foregoing contingencies will
						  occur.
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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3478 - Application for Approval

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application by a subject institution for approval
							 to solicit and accept pre-opening funds shall contain:
(a) Amount of pre-opening funds to be
						  solicited and accepted.
(b)
						  Description of the terms and conditions under which pre-opening funds are to be
						  solicited and accepted.
(c)
						  Description of the manner in which pre-opening funds are to be solicited and
						  accepted.
(d) Description of the
						  persons from who 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.
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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3479 - 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
						  solicitation and acceptance by a subject institution of pre-opening funds is
						  fair, just and equitable, he will grant an application for approval of such
						  solicitation and acceptance, subject to such terms and conditions as he may
						  provide in such approval; if the Commissioner finds otherwise, he will deny the
						  application.
(b) As an
						  administrative standard, the Commissioner generally will not grant an
						  application by a subject institution for approval to solicit and accept
						  pre-opening funds from the public on an unrestricted basis.
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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3480 - Account

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Not more than
						  30 days after incorporation, a subject institution shall establish a deposit
						  account with a California commercial bank, and there shall be deposited in such
						  account any pre-opening funds transferred pursuant to Section
						  10.3408(a) of
						  this Chapter from the pre-incorporation pre-opening funds account for such
						  subject institution, upon such transfer, and any pre-opening funds for the
						  subject institution accepted by the subject institution, upon such acceptance.
						  No other funds shall be deposited in such account.
(b) No funds shall be withdrawn from the
						  post-incorporation pre-opening funds account of a subject institution except:
(1) Upon the order of an officer of such
						  subject institution duly authorized by the board of directors of the subject
						  institution; and
(2) For the
						  purpose of paying pre-opening expenditures of the subject institution or in
						  accordance with the provisions of Section
						  10.3483 of this
						  Chapter.
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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3481 - Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A subject
						  institution shall keep and maintain records relating to its post-incorporation
						  pre-opening funds account, containing:
(1)
						  With respect to each deposit to the account:
(A) Date of deposit.
(B) Amount of money deposited.
(C) Name of person from whom such money was
						  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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3482 - Reports

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
On or before the 15th day of each calendar quarter,
							 commencing with the first calendar quarter after incorporation of a subject
							 institution and continuing until the post-incorporation pre-opening funds
							 account of such subject institution is closed in accordance with the provisions
							 of Section
							 10.3483 of this Chapter, the
							 subject institution shall file with the Commissioner a report stating, with
							 respect to the last calendar quarter:
(1) Opening balance of the account.
(2) Total amount deposited in the account
						  during the calendar quarter.
(3)
						  Total amount disbursed from the account during the month.
(4) Closing balance of the account.
1.
							 Amendment of subsection (a)(5) and new NOTE filed 4-7-97; operative 4-7-97
							 pursuant to Government Code section
							 11343.4(d)
							 (Register 97, No. 15).
2. Change without regulatory effect amending
							 section filed 8-19-97 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
3. Amendment of section and NOTE
							 filed 4-14-98; operative 5-14-98 (Register 98, No.
							 16).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Sections
								350,
								362,
								401 and
								1934,
								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 5 - Post-Incorporation Matters › Subpart 2 - Post-Incorporation Solicitation and Acceptance of Pre-Opening Funds › Section 10.3483 - Disposition

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In case the right to organize a subject institution
							 automatically terminates pursuant to Financial Code Section
							 1045 or in
							 case a subject institution commences business, such subject institution shall,
							 after making all disbursements authorized under the terms of agreements with
							 persons from whom pre-opening funds were accepted, including any agreement
							 called for in Section
							 10.3402(a)(3) or
							 10.3477(a)(3) of
							 this Chapter, if applicable, pay the balance of its post-incorporation
							 pre-opening funds account on a pro rata basis to the persons from whom
							 pre-opening funds were accepted by the subject institution and, in case any
							 pre-opening funds were transferred from the pre-incorporation pre-opening funds
							 account for the subject institution to the post-incorporation pre-opening funds
							 account, the persons from whom pre-opening funds were accepted before
							 incorporation of the subject institution by the then proposed directors,
							 proposed officers, or organizers of the then proposed subject institution, and,
							 after making such payments, close such account.
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
								1045,
								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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3500 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subpart contains regulations relating to matters
							 (other than matters relating to solicitation and acceptance of pre-opening
							 funds) in the post-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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3501 - Name

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
No subject institution shall, at any time before
							 commencing business, use its name in any document unless the designation "In
							 Organization" is appended to such name.
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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3502 - Advertisements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
No subject institution shall, at any time before
							 commencing business, publish any advertisement regarding itself unless it shall
							 have filed a copy of such advertisement with the Commissioner not less than
							 five business days before such publication.
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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3503 - Contracts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
No subject institution shall, at any time before
							 commencing business, enter into any contract for the acquisition, construction,
							 or lease of real property or any contract by the terms of which such subject
							 institution is obligated to pay an aggregate total amount in excess of 5% of
							 its proposed contributed capital unless it shall have filed a copy of such
							 contract with the Commissioner not less than five business days before entering
							 into such contract.
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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3504 - Articles

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A subject institution shall file with the
							 Commissioner a copy of its articles certified by the Secretary of
							 State.
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
								400,
								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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3505 - By-Laws. [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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3508 - Loans from Correspondent Banks. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
							 Change without regulatory effect amending subsection (b)(1) 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
								3365,
								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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3509 - Sale of Shares

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
After the certified copy of the articles of a subject
							 institution has been filed with the Commissioner, such subject institution
							 shall file with the Commissioner an application for a permit to sell
							 shares.
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).
2. Change without regulatory effect amending
							 section 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: Chapter 3, Division 1 and Section
								692,
								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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3510 - Reserve and Non-Reserve Depositaries

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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3511 - Committees of Board

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A subject institution shall, by resolution of its
							 board, establish committees of such board (including, in case the subject
							 institution is to engage in commercial banking business, a loan committee, an
							 investment committee, and an audit committee and, in case the subject
							 institution is to engage in trust business, a trust investment committee and a
							 trust audit committee).
1.
							 Amendment of first paragraph, repealer of 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: Chapter 3, Division 1, 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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3512 - Policies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A subject institution shall, by resolution of its
							 board, adopt the following policies:
(a) Investment policy which shall set forth a
						  general statement of investment policies and objectives, and in addition, set
						  forth standards and procedures on investment matters.
(b) In case the subject institution is a
						  commercial bank, a loan policy which shall set forth a general statement of
						  loan policies and objectives, and, in addition, set forth standards and
						  procedures on lending matters.
(c)
						  In case the subject institution is to engage in trust business, a trust
						  investment policy which shall set forth a general statement of trust investment
						  policies and objectives, and, in addition, set forth standards and procedures
						  on trust investment matters.
(d) In
						  case the subject institution is to be a commercial bank with trust department
						  or an independent trust company which will be an affiliate of a commercial
						  bank, a trust conflict of interest policy which shall set forth the standards
						  and procedures of the subject institution to prevent conflicts of interest
						  relating to trust business and which shall contain, in addition to a general
						  statement on policies and objectives in preventing conflicts of interest
						  relating to trust business, standards and procedures to prevent the following:
(1) Any improper transmission to or use by
						  the trust department or by the independent trust company of information which
						  is held by the commercial banking department or the affiliate commercial bank,
						  as the case may be.
(2) Any
						  improper transmission to or use by the commercial banking department or the
						  affiliate commercial bank of information which is held by the trust department
						  or the independent trust company, as the case may be.
(3) Any improper deposits by the trust
						  department or the independent trust company of fiduciary account funds with the
						  commercial banking department or the affiliate commercial bank, as the case may
						  be, or any other improper transactions between the trust department and the
						  commercial banking department or between the independent trust company and the
						  affiliate commercial bank, as the case may be.
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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3513 - Bonds and Other Insurance Policies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Not less than five business days before commencing
							 business, a subject institution shall:
(a) In case the subject institution is to be
						  a commercial bank, obtain a banker's blanket bond which shall be satisfactory
						  in form and content to the Commissioner.
(b) In case the subject institution is to be
						  an independent trust company, obtain a fidelity bond which shall be
						  satisfactory in form and content to the Commissioner.
(c) In all cases, obtain such other insurance
						  policies as may be appropriate and necessary.
1.
							 Amendment of subsections (a)-(c), repealer of subsections (c)(1)-(c)(2), and
							 new NOTE filed 4-7-97; operative 4-7-97 pursuant to Government Code section
							 11343.4(d)
							 (Register 97, No. 15).
2. Change without regulatory effect amending
							 section 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: Chapter 3, Division 1, 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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3514 - Report Regarding Subscribers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
After the subscriptions for shares of a subject
							 institution have been accepted and paid but not less than five business days
							 before such subject institution commences business, the subject institution
							 shall file with the Commissioner a report stating, with respect to each
							 subscriber for shares of the subject institution whose subscription has been
							 accepted and paid:
(a) Name.
(b) Address.
(c) Number of shares subscribed
						  for.
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 5 - Post-Incorporation Matters › Subpart 3 - Other Post-Incorporation Matters › Section 10.3515 - Reports Regarding Contributed Capital

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Not more than 30 days nor less than five business
							 days before commencing business, a subject institution shall file with the
							 Commissioner a report signed by an executive officer of the subject
							 institution, stating:
(a) That the
						  entire contributed capital of the subject institution, specifying the amount,
						  has been fully paid in lawful money, unconditionally; and,
(b) That the funds representing such
						  contributed capital, plus or minus net income, gain, or loss on investments,
						  specifying the amount, are on deposit in a California commercial bank,
						  specifying the name and address, subject to withdrawal on demand.
1.
							 Change without regulatory effect amending subsection (a)(1) filed 7-2-91
							 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 91, No. 40).
2. Change without regulatory
							 effect amending section filed 8-19-97 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
3. Amendment of section filed
							 4-14-98; operative 5-14-98 (Register 98, No.
							 16).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								400,
								Financial Code.