LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeFinancial CodeDiv. 1.1Ch. 20Art. 1§ 1760 Foreign Bank Licensing Restrictions

§ 1760 Foreign Bank Licensing Restrictions

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

§ 1760 Foreign Bank Licensing Restrictions

This law stops a foreign bank from having both a state‑licensed branch and a federal branch in the same state at the same time.

Key Takeaways

  • •A foreign bank can only keep one kind of branch office in the state.
  • •If it already has a federal branch, it cannot also get a state license for a branch.
  • •If it already has a state‑licensed branch, it cannot also keep a federal branch.

Example

A bank from Canada that already has a federal office in the state wants to open a regular branch here, or it already has a state‑licensed branch and wants to add a federal one.

The bank must choose only one type of office; it cannot keep both a state‑licensed branch and a federal branch open together.

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

Official Source
View on CA.gov

§ 1760 Foreign Bank Licensing Restrictions

(a) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall concurrently maintain a federal agency or federal branch in this state. (b) No foreign (other nation) bank which maintains a federal agency or federal branch in this state shall concurrently be licensed to maintain an agency or branch office in this state. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

foreign bankagency or branch officefederal agency or federal branch

Related Statutes

  • § 1803 Foreign Bank Agency Branch Licensing
  • § 1759 Foreign Bank Recordkeeping Requirements
  • § 1761 Foreign Bank Office Licensing
  • § 1762 Foreign Bank Representative Office
  • § 1764 Foreign Bank License Posting

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 1760.
View Official Source