Cal. FIN § 1608
This is the official text of Cal. FIN § 1608, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
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.
Status: in_force · Read it on the official government site
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