January 27, 2020

January 27, 2020

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DBO Tables Financial Institutions' Central Locations For Service Of Legal Process

Six years ago, I wrote about the enactment of legislation, AB 2364 (Wagner) intended to make it easier to levy on bank accounts.  The law requires a bank or financial institution with more than nine branch offices within California to designate one or more branches or offices for service of legal process within the state.  These are referred to as "central locations".  Cal. Code Civ. Proc. § 684.115(a).   Financial institutions with fewer than nine branches may also make a designation if they choose.  These designations are made with the Department of Business Oversight.

The DBO has made it easy to find these central locations by publishing a table on its website.  The table presently includes 214 entries and covers state or national banks, state or federal savings and loan associations, credit unions, or like organizations, and corporations engaged in safe deposit businesses.  Cal. Code Civ. Proc. § 684.200.  The table may also be downloaded in Excel format.

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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm

Keith Paul Bishop is a partner in Allen Matkins' Corporate and Securities practice group, and works out of the Orange County office. He represents clients in a wide range of corporate transactions, including public and private securities offerings of debt and equity, mergers and acquisitions, proxy contests and tender offers, corporate governance matters and federal and state securities laws (including the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act), investment adviser, financial services regulation, and California administrative law. He regularly advises clients...