BILL NUMBER: AB 1933	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Travis Allen

                        FEBRUARY 12, 2016

   An act to amend Section 1100 of the Financial Code, relating to
banking.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 1933, as introduced, Travis Allen. Banking.
    Existing law regulates the practice of banking in California and
classifies these institutions as a commercial banks, industrial
banks, and trust companies. Existing law prescribes requirements for
the articles of different classes of banks.
   This bill would make nonsubstantive changes to the requirements
for bank articles, as described above.
   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 1100 of the Financial Code is amended to read:
   1100.  The articles of each bank shall contain the applicable one
of the following statements:
   (a) In case the bank is, or is proposed to be, a commercial bank
not authorized to engage in trust business, that the purpose of the
corporation is to engage in commercial banking business and any other
lawful activities  which   that  are not,
by applicable laws or regulations, prohibited to a commercial bank.
   (b) In case the bank is, or is proposed to be, a commercial bank
authorized to engage in trust business, that the purpose of the
corporation is to engage in commercial banking business and trust
business and any other lawful activities  which 
 that  are not, by applicable laws or regulations,
prohibited to a commercial bank authorized to engage in trust
business.
   (c) In case the bank is, or is proposed to be, an industrial bank
not authorized to engage in trust business, that the purpose of the
corporation is to engage in industrial banking business and any other
lawful activities  which   that  are not,
by applicable laws or regulations, prohibited to an industrial bank.
   (d) In case the bank is, or is proposed to be, an industrial bank
authorized to engage in trust business, that the purpose of the
corporation is to engage in industrial banking business and trust
business and any other lawful activities  which 
 that  are not, by applicable laws or regulations,
prohibited to an industrial bank authorized to engage in trust
business.
   (e) In case the bank is, or is proposed to be, a trust 
company (other   company, other  than a commercial
bank authorized to engage in trust  business),  
business,  that the purpose of the corporation is to engage in
trust business and any other lawful activities  which
  that  are not, by applicable laws or regulations,
prohibited to a trust company.