§ 1046
72 words·~1 min read·
/ca/financial-code/1046A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the proposed bank or trust company fails to open for business within 90 days after the issuance of the certificate of authorization, the right to transact business automatically terminates. The commissioner, however, for good cause on written application filed before the end of said 90-day period, may extend for one additional period of not to exceed 90 days the time within which the bank or trust company may open for business.