Existing law, the Banking Law, defines and regulates state banks and commits the enforcement of banking laws with the Commissioner of Business Oversight. Existing law authorizes one or more persons to form a corporation for the purpose of conducting a commercial banking business or a trust business, or both of them, by submitting an application to the commissioner, as specified. Existing law prohibits the commissioner from approving that application until the commissioner has ascertained to his or her satisfaction that certain requirements are met.
This bill would make nonsubstantive changes to that provision.