§ 1550 No corporation shall engage in the trust business unless:(a) Its …
§ 1551 Any commercial bank or industrial bank, with the prior authorization …
§ 1552 No California state bank may engage in trust business at a place …
§ 1553 The following persons are exempt from Section 1550:(a) Any …
§ 1554 In this section, “subject national banking association” means a …
§ 1555 No foreign corporation, other than a national banking association or …
§ 1556 Pursuant to the authority contained in Section 1 of Article XV of the …
§ 1557 The Legislature finds and declares that it is important to inform …

Terms Used In California Codes > Financial Code > Division 1.1 > Chapter 16 > Article 1 - General Provisions

  • City: includes incorporated city, city and county, municipal corporation, municipality, town and incorporated town. See California Financial Code 13
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • department: means State Department of Health Services. See California Health and Safety Code 20
  • Fiduciary: A trustee, executor, or administrator.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lineal descendant: Direct descendant of the same ancestors.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18
  • Trustee: A person or institution holding and administering property in trust.
  • Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
  • Writing: includes any form of recorded message capable of comprehension by ordinary visual means. See California Financial Code 8