BlackletterCalifornia law

Financial Code § 1340

ARTICLE 1. General Provisions

Current as of September 28, 2026Fin. Code, § 1340Official source ↗

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.

Unless specifically authorized by law or by the commissioner, a bank shall not become, act as, or in any other manner assume the duties or liabilities of, a general partner. For purposes of this section, “general partner” has the meaning set forth in subdivision (m) of Section 15901.02 of the Corporations Code.