§ 1761 Foreign Bank Office Licensing

Financial Code·California

AI SummaryVerified

This law says a foreign bank can't have different types of offices at the same time, except for one special case.

Key Takeaways

•Foreign banks can't have multiple types of offices at once.
•The only exception is if one of the offices is just a small 'representative office'.
•This rule helps keep things simple and clear for foreign banks.

Example

A bank from another country wants to open a big branch and a small office in the same state.

They can't do both unless one of the offices is just a small 'representative office' that doesn't do full banking.

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

Official Source

View on CA.gov

§ 1761 Foreign Bank Office Licensing

(a) No foreign (other nation) bank shall concurrently be licensed to maintain offices of different classes. (b) Subdivision (a) does not prohibit a foreign (other nation) bank that is licensed to maintain a representative office from being concurrently licensed to maintain an office of a different class or to prohibit a foreign (other nation) bank that is licensed to maintain an office other than a representative office from being concurrently licensed to maintain a representative office. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

foreign bank representative office different classes

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 1761.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References