Financial Code § 1550

ARTICLE 1. General Provisions

Current as of September 28, 2026Fin. Code, § 1550Official source ↗

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

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.