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Section 1712 Of Article 4. Facilities Of Uninsured Foreign (other State) Banks From California Financial Code >> Division 1.1. >> Chapter 19. >> Article 4.
1712
. (a) No uninsured foreign (other state) bank may establish or
maintain an office in this state at which it engages in noncore
banking business unless the uninsured foreign (other state) bank is
licensed to maintain the office as a facility.
(b) (1) No person may establish or maintain an office in this state as representative of an uninsured foreign (other state) bank unless the uninsured foreign (other state) bank is licensed to maintain the office as a facility.
(2) For purposes of this article, if any person establishes or maintains an office in this state as representative of an uninsured foreign (other state) bank, the uninsured foreign (other state) bank is deemed to establish and maintain the office as a facility.
(b) (1) No person may establish or maintain an office in this state as representative of an uninsured foreign (other state) bank unless the uninsured foreign (other state) bank is licensed to maintain the office as a facility.
(2) For purposes of this article, if any person establishes or maintains an office in this state as representative of an uninsured foreign (other state) bank, the uninsured foreign (other state) bank is deemed to establish and maintain the office as a facility.
