California · Financial Code
FIN §1395: No California state bank may conduct any activity as an agent for an insured depository institution that the California state bank would be prohibited from conducting as a principal.
What this law says, in plain English
California state banks cannot act as agents for insured depository institutions in activities they are prohibited from doing as principals themselves.
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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.