Senate Bill No. 1335

Introduced by Senator Leno

February 21, 2014

An act to amend Section 1020 of the Financial Code, relating to banking.

LEGISLATIVE COUNSEL’S DIGEST

SB 1335, as introduced, Leno. Banking.

Existing law provides for the regulation of state organized banks by the Department of Business Oversight. Existing law establishes the Commissioner of Business Oversight as the head of the department. Existing law requires the request for authority to organize and establish a corporation to engage in the banking or trust business to be set forth in an application and to contain information as the commissioner may require.

This bill would make nonsubstantive changes to this law.

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 1020 of the Financial Code is amended
to read:

1020.  

The request for authority to organize and establish a
corporation to engage in the banking or trust business shall be set
forth in an application in begin delete such end delete begin insert the end insert form begin insert , end insert and containing begin delete such end delete begin insert the end insert
information begin insert , end insert as the commissioner may require and shall be
accompanied by a fee of five thousand dollars ($5,000).