1. (a) For purposes of this Article, an office of a subject institution shall be deemed to be established and to commence business at the time when, the Commissioner having issued a certificate of authority authorizing such subject institution to establish and maintain such office, the subject institution opens the office for the purpose of engaging in commercial banking business, trust business, or both, as the case may be.
2. (b) For purposes of this Article, an office of a subject institution shall be deemed to be relocated and the office--new site shall be deemed to commence business at the time when, the Commissioner having issued a certificate of authority authorizing such subject institution to establish and maintain such office--new site, the subject institution closes the office-- old site, and opens the office--new site for the purpose of engaging in commercial banking business, trust business, or both, as the case may be.

Note: Authority cited: Section 215, Financial Code.

History

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