BILL NUMBER: AB 469	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Travis Allen

                        FEBRUARY 23, 2015

   An act to amend Section 1005 of the Financial Code, relating to
banking.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 469, as introduced, Travis Allen. Banking.
   The Banking Law provides for the formation and regulation of state
organized banks, and makes it unlawful for any person, corporation,
limited liability company, partnership, firm, or any other form of
business entity allowed by law to engage in or transact commercial
banking business, industrial banking business, or trust business
within this state, except by means of a corporation duly organized
for that purpose.
   This bill would make nonsubstantive changes to these provisions.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 1005 of the Financial Code is amended to read:
   1005.  It shall be unlawful for any person,  partnership,
firm,  corporation, limited liability company, 
partnership, firm,  or any other form of business entity
allowed by law, to engage in or transact commercial banking business,
industrial banking business, or trust business within this state
 ,  except by means of a corporation duly organized for that
purpose.