Section 1070 - DefinitionsFor purposes of this chapter, the following definitions apply:
(a) "Automated teller machine" means any electronic information processing device used by a financial institution and its customers for the primary purpose of executing transactions solely between the financial institution and its customers, if the transactions are not incidental to sales between the customer and a business entity other than a financial institution.(b) "Branch office" means any office at which core banking business is conducted other than an automated teller machine, a device used to facilitate check guarantee or check authorization, or a remote service facility as defined in subsection (d) of Section 345.12 of Title 12 of the Code of Federal Regulations.(c) "Core banking business" means the business of receiving deposits, paying checks, making loans, and other activities that the commissioner may specify by order or regulation. "Core banking business," when used to describe the trust business, includes receiving fiduciary assets and administering fiduciary accounts.(d) "Facility," means an office at which a bank engages in noncore banking business but at which it does not engage in core banking business.(e) "Head office" means the office designated by the bank as its headquarters.(f) "Noncore banking business" means all activities permissible for banks, except core banking business, and except those activities prohibited by law or determined by the commissioner by regulation or order not to be noncore banking business.(g) "Office" means the head office, any branch office, and any facility office of a bank.(h) "Redesignate offices" means (1) the relocation by a bank of its head office to the site of a branch or facility office in this state and the concurrent establishment by the bank of an office at the former site of the head office, or (2) the relocation by a bank of a branch office to the site of a facility office and the concurrent establishment by the bank of a branch or facility office at the former site of the branch office.Amended by Stats 2015 ch 190 (AB 1517),s 33, eff. 1/1/2016.Added by Stats 2012 ch 243 (SB 664),s 3, eff. 1/1/2012.