Cal. Financial Code § 1083
Cal. Financial Code § 1083
California · California Financial Code · Status: effective · Effective 2017-01-01
Cite this
- Citation
- Cal. Financial Code § 1083, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/812971
- Permanent ID
ys:prov:812971@1- SHA-256
5d7126ae4d6b7ea7202ca1a8750f07c1df50b5e53751a99222c598ae7c9a05dc
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) A bank may participate in a financial education program that involves receiving deposits or paying withdrawals on the premises of, or at a facility used by, a school. The school premises or facility will not be considered a branch office of the bank, as that term is defined in Section 1070 of the Financial Code, if all of the following conditions are met:
(1) The bank does not establish and operate the school premises or facility in which the program is conducted.
(2) Bank employees work at the site only to participate in the program.
(3) The program is provided at the discretion of the school.
(4) The principal purpose of the program is financial education. For example, a program is educational if it is designed to teach students the principles of personal financial management, banking operations, or the benefits of saving for the future, and is not designed for the purpose of profitmaking.
(5) No services are provided to the general public.
(6) The program is conducted in a manner that is consistent with safe and sound banking practices and complies with applicable law.
(b) A bank that participates in a financial education program pursuant to this section shall be liable for all deposits made on the premises of, or at a facility used by, a school as if the deposit was made directly at a branch office of the bank.