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HomeFinancial CodeDiv. 2Ch. 2Art. 5§ 5652 Restricted Savings Association Names

§ 5652 Restricted Savings Association Names

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

§ 5652 Restricted Savings Association Names

Key Takeaways

  • •You can't use certain words like 'savings bank' or 'savings association' in your business name unless you're officially allowed to run that kind of business.
  • •Even if you don't use the exact words, you can't make it seem like your business is a savings bank or similar if it's not.
  • •Some businesses, like those regulated by the government, can use the term 'savings bank' even if they're not under this specific law.

Example

You want to start a business called 'Happy Savings Bank' but you're not actually a real bank.

You can't do this because your business name makes it sound like you're a real savings bank, which is against the law unless you're officially allowed to run one.

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

Official Source
View on CA.gov

§ 5652 Restricted Savings Association Names

Except as otherwise authorized under existing law, no person, unless lawfully authorized to do business in this state under the provisions of this division and who is actually engaged in carrying on a savings association business, shall: (a) Do business under any name or title that contains the following terms: (1) “Savings association.” (2) “Savings bank.” (3) “Savings and loan association.” (4) “Building and loan association.” (5) “Building association.” (6) Any combination employing either or both of the words “building,” or “loan,” with one or more of the words “saving,” “savings,” or words of similar import. (7) Any combination employing one or more of the words “saving,” “savings,” or words of similar import with one or more of the words “association,” “bank,” “institution,” “society,” “company,” “fund,” “corporation,” or words of similar import. Notwithstanding the provisions of this subdivision, use of the term “savings bank” in a name or title is not prohibited to any person regulated by the provisions of Division 1 (commencing with Section 99), Division 7 (commencing with Section 18000), or under procedures and regulations promulgated by the Comptroller of the Currency, Federal Reserve Board, Office of Thrift Supervision, Federal Housing Finance Board, or Federal Deposit Insurance Corporation. Any reference to the term “savings bank” in this division is not intended to apply to any person other than persons authorized to do business in this state under this division. (b) Use any name or sign or circulate or use any letterhead, billhead, circular or paper whatever, or advertise or represent in any manner that indicates or reasonably implies that the business is the character or kind of business carried on or transacted by an association or is likely to lead any person to believe that the business is that of an association. (Amended by Stats. 1996, Ch. 1064, Sec. 551. Effective January 1, 1997. Operative July 1, 1997.)

Last verified: January 23, 2026

Key Terms

associationcorporationsavings bank,savings and loan,insuranceportregulationcombination

Related Statutes

  • § 30201 Securities Depository Ownership Rules
  • § 5606 Savings Account Insurance Requirement
  • § 5624 Net Worth Certificates
  • § 5653 Thrift Institution Violation Penalties
  • § 5654 Association Office And Name Changes

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 5652.
View Official Source