Financial Code section 1387

In determining whether to approve or deny an application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent, the commissioner shall consider both of the following:

(a)

Whether the proposed agency arrangement is consistent with the safe and sound operation of the California state bank.

(b)

Any other factors that the commissioner deems relevant.

Source: Section 1387, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=1387.­ (updated Jan. 1, 2012; accessed Jul. 21, 2025).

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Verified:
Jul. 21, 2025

§ 1387's source at ca​.gov