Cal. FIN § 1550
This is the official text of Cal. FIN § 1550, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
No corporation shall engage in the trust business unless:
(a) Its articles comply with the requirements of subdivision (b), (d), or (e) of Section 1100; and
(b) It has received from the commissioner a certificate of authority pursuant to Section 1042 to engage in the trust business, or, if it is a bank, has received the authorization of the commissioner to engage in the trust business; and
(c) It has deposited with the State Treasurer money or securities in compliance with Article 3 (commencing with Section 1570) of this chapter.
(a) Its articles comply with the requirements of subdivision (b), (d), or (e) of Section 1100; and
(b) It has received from the commissioner a certificate of authority pursuant to Section 1042 to engage in the trust business, or, if it is a bank, has received the authorization of the commissioner to engage in the trust business; and
(c) It has deposited with the State Treasurer money or securities in compliance with Article 3 (commencing with Section 1570) of this chapter.
Status: in_force · Read it on the official government site
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