{"code":"FIN","codeName":"Financial Code","section":"1550","citation":"Fin. Code, § 1550","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 16. Trust Companies [1550. - 1613.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-16"},{"name":"ARTICLE 1. General Provisions [1550. - 1557.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-16/article-1"}],"history":"Added by Stats. 2011, Ch. 243, Sec. 3.   (SB 664)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>No corporation shall engage in the trust business unless:</p><p>(a) Its articles comply with the requirements of subdivision (b), (d), or (e) of Section <a href=\"/fin/1100\">1100</a>; and</p><p>(b) It has received from the commissioner a certificate of authority pursuant to Section <a href=\"/fin/1042\">1042</a> 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</p><p>(c) It has deposited with the State Treasurer money or securities in compliance with Article 3 (commencing with Section <a href=\"/fin/1570\">1570</a>) of this chapter.</p>","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.","otherVersions":[],"url":"https://blackletter.si/financial-code/general-provisions-1550","source":"California Legislative Information bulk export (pubinfo)"}