Cal. FIN § 1046
This is the official text of Cal. FIN § 1046, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
If the proposed bank or trust company fails to open for business within 90 days after the issuance of the certificate of authorization, the right to transact business automatically terminates. The commissioner, however, for good cause on written application filed before the end of said 90-day period, may extend for one additional period of not to exceed 90 days the time within which the bank or trust company may open for business.
Status: in_force · Read it on the official government site
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