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HomeFinancial CodeDiv. 2Ch. 4Art. 2§ 6553 Branch Office Application Requirements

§ 6553 Branch Office Application Requirements

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

§ 6553 Branch Office Application Requirements

Key Takeaways

  • •You need permission to open a new branch or office for your business.
  • •You must tell the government where the new place will be and what it will do.
  • •You have to pay a fee and show a budget for the new branch when you ask for permission.

Example

A bank wants to open a new branch in a different town.

The bank must tell the government where the new branch will be, what services it will offer, and pay a fee. They also need to show a budget that includes the costs of running this new branch.

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

Official Source
View on CA.gov

§ 6553 Branch Office Application Requirements

(a) Each application for approval of the establishment and maintenance of a branch office or one or more agencies shall include the following: (1) The proposed location of the branch or agency. (2) The functions to be performed at the branch or agency. (3) Any additional information the commissioner deems necessary to reach a decision. (b) Each application shall be accompanied by the filing fee as prescribed pursuant to Section 9001 and by a budget of the association for the current earnings period and for the next succeeding annual period, which reflects the estimated additional expense of the maintenance of each branch or agency covered by the application. (Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)

Last verified: January 23, 2026

Key Terms

applicationcommissionlocationmaintenanceestablishmentinformationassociation

Related Statutes

  • § 6550 Branch Office Approval
  • § 6554 Branch Office Application Notice
  • § 1078 Branch Office Closure Notice
  • § 31233 Distribution Approval Deemed Granted
  • § 4895.05 Merger Commissioner Approval

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 6553.
View Official Source