{"code":"FIN","codeName":"Financial Code","section":"1387","citation":"Fin. Code, § 1387","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1.1. BANKING [1000. - 1910.]","url":"https://blackletter.si/financial-code/division-1.1"},{"name":"CHAPTER 11. Agency Activities [1380. - 1397.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-11"},{"name":"ARTICLE 2. California State Bank as Principal [1384. - 1390.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-11/article-2"}],"history":"Added by Stats. 2011, Ch. 243, Sec. 3.   (SB 664)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>In determining whether to approve or deny an application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent, the commissioner shall consider both of the following:</p><p>(a) Whether the proposed agency arrangement is consistent with the safe and sound operation of the California state bank.</p><p>(b) Any other factors that the commissioner deems relevant.</p>","text":"In determining whether to approve or deny an application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent, the commissioner shall consider both of the following: (a) Whether the proposed agency arrangement is consistent with the safe and sound operation of the California state bank. (b) Any other factors that the commissioner deems relevant.","otherVersions":[],"url":"https://blackletter.si/financial-code/california-state-bank-as-principal-1387","source":"California Legislative Information bulk export (pubinfo)"}