Fin. Code, § 1550 · Article 1. General Provisions
Fin. Code, § 1550
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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.
Notes and commentary — not statutory text
History
Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.
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=1550.
- Text hash
- sha256 9242a0ea7db6c6a833a9e38cb0c3b246e0a0c1d60dc54989213dee61fbb27fd5
- 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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Financial Code
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