1. (a) “Branch office,” when used with respect to a California state bank, means any place at which such bank, in case it is a commercial bank, engages in the business of receiving deposits, paying checks, or making loans or any place at which such bank, in case it is a trust company, engages in the business of receiving fiduciary assets or administering fiduciary accounts. However, a place at which a California state bank engages in one or more of the following activities does not on that account constitute a branch office of the bank:

   1. (1) A place at which the bank engages in the business of receiving deposits or fiduciary assets solely by means of United States mail addressed to a post office box.
   2. (2) A place at which the bank engages in the business of receiving deposits or fiduciary assets solely by means of a messenger who is an independent contractor or an employee of the bank.
2. (b) “Branch office,” when used to designate a United States office of a foreign (other nation) bank, means a limited branch office, retail branch office, or wholesale branch office. “Branch office,” when used with respect to a foreign (other nation) bank, includes both state and federal branch offices.
3. (c) “Branch office,” when used with respect to a California state bank, does not include an automated teller machine branch office (as defined in Financial Code Section 550).

Note: Authority cited: Section 215, Financial Code. Reference: Sections 500, 550 and 1700, Financial Code.

History

1. Amendment of subsection (b) filed 10-15-81 as an emergency; effective upon filing (Register 81, No. 44). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 2-12-82.

2. Certificate of Compliance transmitted to OAL 2-11-82 and filed 3-12-82 (Register 82, No. 11).

3. Amendment of section and Note filed 4-14-98; operative 5-14-98 (Register 98, No. 16).