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HomeCorporations CodeCh. 1Art. 4§ 14006 Bank Board Approval Process

§ 14006 Bank Board Approval Process

Corporations Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 14006 Bank Board Approval Process

This law says that if the bank board agrees with the program manager's decision, they must approve the paperwork to create a new bank and send it to the Secretary of State. The program manager also checks any changes to this paperwork to make sure it follows the rules.

Key Takeaways

  • •The bank board and program manager must agree to approve new bank paperwork.
  • •The program manager checks any changes to the bank's paperwork to make sure it follows the rules.
  • •The Secretary of State gets the final paperwork to make the new bank official.

Example

A group of people want to start a new bank.

They fill out paperwork to create the bank. The program manager checks it and says it's okay. Then the bank board agrees and sends the paperwork to the Secretary of State to make it official.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 14006 Bank Board Approval Process

If the bank board concurs with the findings of the program manager pursuant to Section 14004, the bank board shall direct the program manager to approve the articles of incorporation and endorse the approval thereon and forward the same to the Secretary of State for his or her approval and filing. Likewise, the program manager shall review all amendments to the articles of incorporation to ensure consistency with the purposes of this chapter. (Added by Stats. 2013, Ch. 537, Sec. 2. (AB 1247) Effective October 4, 2013.)

Last verified: January 10, 2026

Key Terms

bank boardprogram managerarticles of incorporationSecretary of State

Related Statutes

  • § 14007 Small Business Corporation Existence
  • § 12310 Cooperative Corporation Articles Requirements
  • § 12310.5 Worker Cooperative Election
  • § 12312 Corporate Purpose Limitation
  • § 12314 Unequal Member Voting Power

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Corporations Code. Section 14006.
View Official Source