CHAPTER 3. Authorization to Engage in Banking [1040. - 1048.]

Chapter 3 added by Stats. 2011, Ch. 243, Sec. 3.

§§ 1040–1048 · 9 sections

• § 1040 In this article: (a) “Preopening expenditure” means any obligation incurred, or sum disbursed, by a bank prior to the time when it commences to transact…
• § 1041 The articles of incorporation of the proposed bank or trust company shall be submitted to the commissioner for his or her approval before they are filed with…
• § 1042 If the commissioner finds that the proposed bank or trust company has in good faith complied with all the requirements of law and fulfilled all the conditions…
• § 1043 It shall be unlawful to accept payment of subscriptions for shares of any corporation proposing to engage in the banking or trust business unless authority to…
• § 1044 No corporation organized to transact a commercial banking or trust business shall transact any business until the commissioner has issued his or her…
• § 1045 If the proposed bank or trust company fails to file evidence of incorporation and organization with the commissioner pursuant to Section 1041 within one year…
• § 1046 If the proposed bank or trust company fails to open for business within 90 days after the issuance of the certificate of authorization, the right to transact…
• § 1047 It is unlawful to apply any part of the funds collected from subscribers or shareholders to the payment of commissions or fees for obtaining subscriptions or…
• § 1048 Every bank and trust company shall keep posted in a conspicuous place in its banking room at its head office the certificate of authority to transact a banking…