For purposes of this Subarticle, a subject institution shall be deemed to commence business at the time when the Commissioner issues to the subject institution a certificate of authority authorizing it to transact commercial banking business, trust business, or both, as the case may be.

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

History

1. Amendment of section heading and section 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).