This law states that a foreign bank, meaning a bank from another country, is only allowed to do business in California if it has a proper license for a local branch or agency office. This is not mandatory if the bank is conducting business at a federal agency or branch, as per federal regulations. Foreign banks can still do certain other activities, like dealing with real estate loans and trust business, even if they don’t have a local office. Additionally, if a foreign bank’s majority-owned subsidiary operates in California, it doesn’t count as the foreign bank itself doing business there.

This law says that a foreign bank, which is a bank from another country, can only open and operate an agency or branch in California if it has the proper authorization to do business within the state. This requirement is detailed in a specific part of the Corporations Code.

A foreign bank, which is a bank from another country, cannot open a retail branch in California unless the deposits in that branch are insured by the Federal Deposit Insurance Corporation (FDIC), as required by the Federal Deposit Insurance Act.

A foreign bank cannot open or run a branch or agency in California without first getting approval and a license from the state commissioner. However, they can open federal branches without needing state approval. To get approval, the bank must show that it, and its leaders, are reputable and financially stable, that its history is good, and that it can manage the branch or agency responsibly. The bank must also prove that its new office will be successful, comply with laws, and benefit the public. If creating a branch, the bank's home country must allow similar banking setups from California banks. If these things are not demonstrated, the application will be denied. Once approved and all steps are completed, a license will be issued.

If a foreign bank with an office in California wants to move that office, it needs permission from the state's commissioner first. The commissioner will approve the move if they find it safe for the bank and beneficial for the public. If the new location is nearby, it shouldn't harm public convenience, or it should be necessary for the bank's safety. If the new location is far, the bank must show the move is likely to succeed and won't harm public convenience at the old site, while benefiting the public at the new site. After approval, the bank must give up its old license when it moves.

This law outlines what foreign banks with agency or branch offices in California can and cannot do. If the office is a nondepositary agency, it cannot accept any deposits. Depositary agencies can only accept deposits from foreign nations or entities primarily based abroad. Limited and wholesale branch offices can have additional deposit conditions, for example, accepting large deposits of $250,000 or more. No branch is allowed to conduct trust business unless permitted by another specific section. Furthermore, foreign banks cannot perform activities that they're not allowed to under their own country's laws or that aren't allowed for California banks. All these activities also remain subject to oversight by the relevant commissioner.

This law explains how foreign banks (banks from other countries) that operate in California must follow certain rules as if they were local commercial banks. These rules differ slightly depending on whether the foreign bank operates a branch that holds customer deposits or one that does not.

For those without deposits, they must adhere to regulations typically applied to domestic banks, such as chapters concerning governance and financial controls.

For those with deposit branches, a broader set of rules apply, covering areas like financial operations, governance, and asset liability management. If there is a conflict between rules for foreign banks and other applied regulations, the rule specifically for foreign banks prevails.

Changes may be needed to apply these rules to foreign banks effectively, like defining terms for board approvals and how shareholder equity is handled. When calculating financial limits, only assets and liabilities of California branch offices should be considered, ignoring those of offices outside the state.

This law requires that when the commissioner asks for a report from California commercial banks, foreign banks operating in the state must also provide a report. These foreign banks must display a notice in their offices (not including ATM-only branches) stating that anyone can request a financial report, and must provide contact details for obtaining it. The first report is free. The report should include either regulated information or the last balance sheet and income statement given to the commissioner.

Foreign banks that operate certain types of offices in California must clearly inform clients that their deposits are not protected by the Federal Deposit Insurance Corporation (FDIC). This requirement is subject to specific regulations set by the commissioner.

This law applies to foreign banks authorized to operate in California, requiring them to comply with specific regulations regarding interest rates and deposit handling, even if they are not bound by certain federal regulations. This ensures these foreign banks operate on an equal footing with state-based banks. The commissioner has the power to create or repeal these regulations quickly, if necessary, to protect public health, safety, or welfare, without the usual procedural requirements.

This law requires foreign banks that are allowed to operate in California to keep their in-state assets separate from assets outside the state. Additionally, if a foreign bank faces financial trouble, the creditors from its California operations have first rights to the bank's in-state assets before any other creditors.

This law governs how foreign (non-U.S.) banks conduct business in California. Foreign banks must keep certain assets, like cash or secure financial instruments, on deposit with an approved local bank. This ensures they have enough funds to cover liabilities in California. The amount deposited must meet a minimum set by the state commissioner, generally at least 1% of the foreign bank's liabilities in California. Banks cannot withdraw these assets without approval. If a foreign bank loses its license or faces financial difficulty, the assets may be used to protect creditors and the public. The deposited assets are free from other claims or liens, and the commissioner oversees compliance and holds a security interest in the deposits.

This section outlines requirements for foreign banks operating branch offices in California. It explains what counts as 'adjusted liabilities' and 'eligible assets.' Adjusted liabilities are the bank's local business liabilities, minus certain exclusions like expenses and liabilities to related offices. Eligible assets include certain deposits and reserves as defined by regulations.

The section mandates that such banks maintain eligible assets up to 108% of their adjusted liabilities. The state regulator, referred to as the commissioner, can decide the specific requirements to ensure the bank's financial stability and protect creditors and public interests. If needed, the commissioner can also require these assets to be held by a bank based in California for added security.

If a foreign bank wants to close its branch or agency office in California, it needs approval from the commissioner first. The bank can bypass this requirement if it follows certain rules in another section of the law.

The commissioner will approve the closure if it's safe for the bank to do so and won't negatively affect the public. If these conditions aren't met, the application will be denied.

Once approval is given and all conditions are met, the bank must close the office and return its license to operate there.