AB 1933: Banking.
- Session Year: 2015-2016
- House: Assembly
- Latest Version Date: 2016-03-15
Existing law
The Banking Law regulates the practice of banking in California and classifies these institutions as a commercial banks, industrial banks, and trust companies. Existing That law prescribes requirements for the articles of different classes of banks. banks and requires the articles to specify the classification of the bank. Existing law authorizes the Commissioner of Business Oversight to enforce, among other provisions, compliance with the requirements of the Banking Law.
This bill would make nonsubstantive changes to the requirements for bank articles, as described above.
This bill would require a bank to post its classification in a prominent location on the banks Internet Web site.
Existing law regulates the practice of banking in California and classifies these institutions as a commercial banks, industrial banks, and trust companies. Existing law prescribes requirements for the articles of different classes of banks.
This bill would make nonsubstantive changes to the requirements for bank articles, as described above.
The (a) The articles of each bank shall contain the applicable one of the following statements:
(a)
(1)In case the bank is, or is proposed to be, a commercial bank not authorized to engage in trust business, that the purpose of the corporation is to engage in commercial banking business and any other lawful activities that are not, by applicable laws or regulations, prohibited to a commercial bank.
(b)
(2)In case the bank is, or is proposed to be, a commercial bank authorized to engage in trust business, that the purpose of the corporation is to engage in commercial banking business and trust business and any other lawful activities that are not, by applicable laws or regulations, prohibited to a commercial bank authorized to engage in trust business.
(c)
(3)In case the bank is, or is proposed to be, an industrial bank not authorized to engage in trust business, that the purpose of the corporation is to engage in industrial banking business and any other lawful activities that are not, by applicable laws or regulations, prohibited to an industrial bank.
(d)
(4)In case the bank is, or is proposed to be, an industrial bank authorized to engage in trust business, that the purpose of the corporation is to engage in industrial banking business and trust business and any other lawful activities that are not, by applicable laws or regulations, prohibited to an industrial bank authorized to engage in trust business.
(e)
(5)In case the bank is, or is proposed to be, a trust company, other than a commercial bank authorized to engage in trust business, that the purpose of the corporation is to engage in trust business and any other lawful activities that are not, by applicable laws or regulations, prohibited to a trust company.
(b)A bank shall post the applicable statement included in the articles of the bank from subdivision (a) in a prominent location on the Internet Web site of the bank.
The articles of each bank shall contain the applicable one of the following statements:
(a)In case the bank is, or is proposed to be, a commercial bank not authorized to engage in trust business, that the purpose of the corporation is to engage in commercial banking business and any other lawful activities which that are not, by applicable laws or regulations, prohibited to a commercial bank.
(b)In case the bank is, or is proposed to be, a commercial bank authorized to engage in trust business, that the purpose of the corporation is to engage in commercial banking business and trust business and any other lawful activities which that are not, by applicable laws or regulations, prohibited to a commercial bank authorized to engage in trust business.
(c)In case the bank is, or is proposed to be, an industrial bank not authorized to engage in trust business, that the purpose of the corporation is to engage in industrial banking business and any other lawful activities which that are not, by applicable laws or regulations, prohibited to an industrial bank.
(d)In case the bank is, or is proposed to be, an industrial bank authorized to engage in trust business, that the purpose of the corporation is to engage in industrial banking business and trust business and any other lawful activities which that are not, by applicable laws or regulations, prohibited to an industrial bank authorized to engage in trust business.
(e)In case the bank is, or is proposed to be, a trust company (other company, other than a commercial bank authorized to engage in trust business), business, that the purpose of the corporation is to engage in trust business and any other lawful activities which that are not, by applicable laws or regulations, prohibited to a trust company.
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Date
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Status
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|---|---|
| Feb 12, 2016 | Read first time. To print. |
| Feb 16, 2016 | From printer. May be heard in committee March 17. |
| Mar 14, 2016 | Referred to Com. on B. & F. |
| Mar 15, 2016 | From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended. |
| Mar 16, 2016 | Re-referred to Com. on B. & F. |
| Apr 7, 2016 | In committee: Set, first hearing. Hearing canceled at the request of author. |
This list shows positions taken on this bill by organizations on the date displayed, which is linked to the original source.
Positions by individuals are not included.
Bill Author
Bill Co-Author(s):