(a) Each foreign (other nation) bank that is licensed to maintain an office shall assign to the office a popular name that consists of a specific designation by name or number and shall post the popular name and the name of the bank in a conspicuous place at the office.

(b) The popular name that a foreign (other nation) bank assigns to a representative office that it is licensed to maintain shall include the term “representative office.”

Terms Used In California Financial Code 1765

  • Agency: means a depositary agency or a nondepositary agency. See California Financial Code 1750
  • licensed: means to be issued or to hold a license. See California Financial Code 1750
  • Office: when used with respect to a foreign (other nation) bank, means any agency, branch office, or representative office of the bank. See California Financial Code 1750
  • Representative office: when used with respect to a foreign (other nation) bank, means an office in this state at which the bank engages in representational functions but at which it does not transact commercial banking business. See California Financial Code 1750

(c) The popular name that a foreign (other nation) bank assigns to an agency that it is licensed to maintain shall not include the term “branch” unless the term is modified by the word “foreign” or “overseas” or by a similar word.

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

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