Fin. Code, § 1514 · Article 4. Investments
Fin. Code, § 1514
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) A commercial bank may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of any investment company which has qualified to sell its securities in this state pursuant to Part 2 (commencing with Section 25100) of Division 1 of Title 4 of the Corporations Code, if the officers and employees of the bank who sell these securities meet such standards with respect to training, experience, and sales practices as established by the commissioner or the commissioner’s designee. For the purpose of this section, “investment company” means an investment company as defined in the Investment Company Act of 1940 (15 U.S.C., Sec. 80a-1 et seq.).
(b) The amendments made to this section by the act adding this subdivision shall become operative on July 1, 2026.
Notes and commentary — not statutory text
History
Amended by Stats. 2026, Ch. 28, Sec. 16. (SB 170) Effective June 29, 2026. Operative July 1, 2026, by its own provisions.
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=1514.
- Text hash
- sha256 5ecac953c02fc3adf407c8aa5f2519d98bea00e658a03e58ab4551851e2e2032
- 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
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