Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 1 - Commissioner of Business Oversight, Division of Financial InstitutionsSubchapter 10 - BanksArticle 4 - Establishment of California State BanksSubarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company
Part 1 - General Provisions
Section 10.3101 - Other Definitions

Cal. Code Regs. tit. 10 § 10.3101

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Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 10.3101 - Other Definitions

In this Subarticle:

(a) "Post-incorporation pre-opening funds account" means the deposit account called for in Section 10.3480 of this Chapter.
(b) "Pre-incorporation pre-opening funds account" means the deposit account called for in Section 10.3405 of this Chapter.
(c) "Pre-opening capital expenditures" means pre-opening expenditures which may be capitalized in conformity with generally accepted accounting principles and practices then applicable.
(d) "Pre-opening expenditure" has the meaning set forth for "preopening expenditure" in Financial Code Section 1040.
(e) "Pre-opening funds" means any money or other thing of value solicited or accepted by a proposed director, proposed officer, or organizer of a proposed subject institution or by a subject institution at any time before such subject institution commences business, for the purposes of paying the pre-opening expenditures of such subject institution. However, "pre-opening funds" does not include any proceeds from the sale by a subject institution, after incorporation, of any security issued by it under authority of a permit or of an exemption from Financial Code Section 1201 issued by the Commissioner or any income or gain derived from any such proceeds.
(f) "Pre-opening noncapital expenditure" has the meaning set forth for "preopening noncapital expenditure" in Financial Code Section 1040.
(g) "Proposed subject institution" means a subject institution which is proposed to be organized but which has not yet been incorporated.

Cal. Code Regs. Tit. 10, § 10.3101

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).
2. Change without regulatory effect amending subsections (d)-(f) and NOTE filed 8-21-2019 pursuant to section 100, title 1, California Code of Regulations (Register 2019, No. 34).

Note: Authority cited: Section 326, Financial Code. Reference: Section 1040, Financial Code.

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).
2. Change without regulatory effect amending subsections (d)-(f) and Note filed 8-21-2019 pursuant to section 100, title 1, California Code of Regulations (Register 2019, No. 34).