Fin. Code, § 1083 · Chapter 4. Bank Offices
Fin. Code, § 1083
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) A bank may participate in a financial education program that involves receiving deposits or paying withdrawals on the premises of, or at a facility used by, a school. The school premises or facility will not be considered a branch office of the bank, as that term is defined in Section 1070 of the Financial Code, if all of the following conditions are met:
(1) The bank does not establish and operate the school premises or facility in which the program is conducted.
(2) Bank employees work at the site only to participate in the program.
(3) The program is provided at the discretion of the school.
(4) The principal purpose of the program is financial education. For example, a program is educational if it is designed to teach students the principles of personal financial management, banking operations, or the benefits of saving for the future, and is not designed for the purpose of profitmaking.
(5) No services are provided to the general public.
(6) The program is conducted in a manner that is consistent with safe and sound banking practices and complies with applicable law.
(b) A bank that participates in a financial education program pursuant to this section shall be liable for all deposits made on the premises of, or at a facility used by, a school as if the deposit was made directly at a branch office of the bank.
Notes and commentary — not statutory text
History
Added by Stats. 2016, Ch. 180, Sec. 1. (AB 1784) Effective January 1, 2017.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=1083.
- Text hash
- sha256 371e7bcb23f66141eca3a7587358d1b807f4005a19502df1398daf43d8f3545c
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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