1. (a) In this Subarticle:

   1. (1) “Applicant” means a California national bank which applies to the Commissioner for approval to convert into a subject institution.

   2. (2) “Subject institution” means a California state bank into which an applicant is, or is proposed to be, converted, as follows:

      1. (A) In case the applicant is authorized to engage both in commercial banking business and in trust business, the subject institution shall be a California state commercial bank with trust department.
      2. (B) In case the applicant is authorized to engage only in commercial banking business, the subject institution shall be a California state commercial bank without trust department.
      3. (C) In case the applicant is authorized to engage only in trust business, the subject institution shall be a California state independent trust company.
2. (b) This Subarticle contains regulations relating to the conversion of an applicant into a subject institution pursuant to Article 2 (commencing with Section 4940) of Chapter 5 of Division 1.5 of the Financial Code. This Part contains general provisions relating to the conversion of an applicant into a subject institution. Part 2 (commencing with Section 10.4350) of this Subarticle contains regulations relating to an application by an applicant for approval to convert into a subject institution. Part 3 (commencing with Section 10.4400) of this Subarticle contains regulations which set forth administrative standards and procedures relating to an application by an applicant for approval to convert into a subject institution. Part 4 (commencing with Section 10.4450) of this Subarticle contains regulations relating to matters after an application by an applicant for approval to convert into a subject institution is approved by the Commissioner.

Note: Authority cited: Section 4831, Financial Code. Reference: Article 2, Chapter 5, Dvision 1.5, Financial Code.

History

1. Amendment of subsection (b) 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).