Section 1608 Of Article 5. Miscellaneous From California Financial Code >> Division 1.1. >> Chapter 16. >> Article 5.
1608
. Whenever any corporation desires to withdraw from and
discontinue doing a trust business, it shall furnish to the
commissioner satisfactory evidence of its release and discharge from
all the obligations and trusts which it has assumed or which have
been imposed on it by law. Thereupon the commissioner shall revoke
his or her certificate of authority to do a trust business, and the
State Treasurer shall return to it all of the securities deposited by
it. Thereafter such corporation shall not be permitted to use and
shall not use the word "trust" in its corporate name, or in
connection with its business.