1. (a) In case the subject institution is to be a commercial bank, obtain a banker's blanket bond which shall be satisfactory in form and content to the Commissioner.
2. (b) In case the subject institution is to be an independent trust company, obtain a fidelity bond which shall be satisfactory in form and content to the Commissioner.
3. (c) In all cases, obtain such other insurance policies as may be appropriate and necessary.

Not less than five business days before commencing business, a subject institution shall:

Note: Authority cited: Section 215, Financial Code. Reference: Chapter 3, Division 1, Financial Code.

History

1. Amendment of subsections (a)-(c), repealer of subsections (c)(1)-(c)(2), and new Note filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15).

2. Change without regulatory effect amending section filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).