Bill Text: CA SB747 | 2019-2020 | Regular Session | Introduced

California Senate Bill 747 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Banking development districts.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2020-02-03 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB747 Detail]

Download: California-2019-SB747-Introduced.html

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Senate Bill

No. 747

Introduced by Senator Bradford

February 22, 2019

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

LEGISLATIVE COUNSEL'S DIGEST

SB 747, as introduced, Bradford. Banking Law.

Existing law, the Banking Law, provides for the licensure and regulation of banks, under the supervision of the Commissioner of Business Oversight, and requires that a state bank be incorporated, as specified. Existing law requires that a request for authority to organize and establish a corporation to engage in the banking business be set forth in an application in a form and containing any information that the commissioner may require along with a specified fee.

This bill would make nonsubstantive changes in these provisions.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO 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 ~~such~~ a form and containing ~~such~~ any information as the commissioner may require and shall be accompanied by a fee of five thousand dollars ($5,000).