DIVISION 1.1. BANKING 1000-1910›CHAPTER 19. Foreign (Other State) Banks 1670-1721›ARTICLE 1. General Provisions 1670-1676

§ 1675

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

(a) Any foreign (other state) state bank is exempted from the restrictions of Section 1 of Article XV of the California Constitution relating to rates of interest upon the loan or forbearance of any money, goods, or things in action or on accounts after demand.

(b) This section does not exempt a foreign (other state) state bank or any subsidiary from complying with all other laws and regulations governing the business in which the bank or subsidiary is engaged.

(c) This section creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution.

(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

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California Financial Code

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