Cal. Code Regs. tit. 10 § 10.14751

Current through Register 2024 Notice Reg. No. 52, December 27, 2024

Section 10.14751 - General Restrictions

No subject institution shall maintain any credit balance at a subject office other than a credit balance which:

(a) Is incidental to or arises out of the transaction of such commercial banking business as the subject institution may lawfully transact at the subject office;

(b) Is to serve a specific purpose; and

(c) Is withdrawn within a reasonable period of time after such specific purpose has been accomplished.

Cal. Code Regs. Tit. 10, § 10.14751

Note: Authority cited: Section 215, Financial Code. Reference: Section 1755, Financial Code.