California § 57603 - Before engaging in business, a public bank shall obtain a certificate of authoriz
Full text of California Public Contract Code - PCC § 57603 — Before engaging in business, a public bank shall obtain a certificate of authoriz, with citation guidance and answers to common questions.
§ 57603. Before engaging in business, a public bank shall obtain a certificate of authoriz
(a) Before engaging in business, a public bank shall obtain a certificate of authorization to transact business as a bank pursuant to Division 1.1 of the Financial Code (commencing with Section 1000). (b) A local agency shall comply with the requirements of Section 53638 with respect to its deposits in a public bank unless, with the prior approval of the Commissioner of Financial Protection and Innovation, the public bank and the local agency depositor agree otherwise. (c) Notwithstanding Section 23010, a county may lend any of its available funds to any public bank. (d) Notwithstanding Section 53601, any local agency that does not pool money in deposits or investments with other local agencies that have separate governing bodies may invest in debt securities or other obligations of a public bank. (e) Notwithstanding Section 53635, any local agency that pools money in deposits or investments with other local agencies, including local agencies that have the same governing body, may invest in debt securities or other obligations of a public bank. (f) Notwithstanding Section 53635.2, a public bank shall be eligible to receive local agency money.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 57603
What does Public Contract Code - PCC § 57603 cover?
Section 57603 ("Before engaging in business, a public bank shall obtain a certificate of authoriz") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 57603?
A common citation format is "Public Contract Code - PCC § 57603" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 57603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.