Form DBO-88 "Application for Approval to Act as Approved Depository" - California

What Is Form DBO-88?

This is a legal form that was released by the California Department of Business Oversight - a government authority operating within California. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on October 1, 2017;
  • The latest edition provided by the California Department of Business Oversight;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

Download a fillable version of Form DBO-88 by clicking the link below or browse more documents and templates provided by the California Department of Business Oversight.

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Download Form DBO-88 "Application for Approval to Act as Approved Depository" - California

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STATE OF CALIFORNIA – DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR APPROVAL TO ACT AS APPROVED DEPOSITORY
DBO – Form 88 (Rev. 10-17)
To: Commissioner of Business Oversight
Date:
hereby applies for approval to act as the
(Name of Applicant)
approved depository of
.
(Name of Foreign (Other Nation) Bank)
1. Information Regarding Applicant:
2. Information Regarding Material Transactions or Business Relationship:
3. Information Regarding Specified Factors:
(Name of Applicant)
By
(Signature)
(Name and Title)
APPROVAL
Date:
Pursuant to Financial Code Section 1811(a)(3), the Commissioner of Business Oversight
hereby grants approval for the Applicant to act as the approved depository of the foreign
(other nation) bank named in the application.
Commissioner of Business Oversight
By
(Signature)
(Name and Title)
STATE OF CALIFORNIA – DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR APPROVAL TO ACT AS APPROVED DEPOSITORY
DBO – Form 88 (Rev. 10-17)
To: Commissioner of Business Oversight
Date:
hereby applies for approval to act as the
(Name of Applicant)
approved depository of
.
(Name of Foreign (Other Nation) Bank)
1. Information Regarding Applicant:
2. Information Regarding Material Transactions or Business Relationship:
3. Information Regarding Specified Factors:
(Name of Applicant)
By
(Signature)
(Name and Title)
APPROVAL
Date:
Pursuant to Financial Code Section 1811(a)(3), the Commissioner of Business Oversight
hereby grants approval for the Applicant to act as the approved depository of the foreign
(other nation) bank named in the application.
Commissioner of Business Oversight
By
(Signature)
(Name and Title)
STATE OF CALIFORNIA – DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR APPROVAL TO ACT AS APPROVED DEPOSITORY
DBO – Form 88 (Rev. 8-13) Page 2 of 3
INSTRUCTIONS
A. General
Pursuant to Section 10.16026 of the Regulations of the Commissioner of Business
Oversight (the "Commissioner"), Form 88 and these instructions are to be used in
cases where a bank organized under the laws of the State of California or a national
banking association headquartered in the State of California (the "applicant")
applies for approval to act as the approved depository of a foreign (other nation)
bank under Section 1811(a)(3) of the Financial Code.
The definitions and general provisions in the Regulations of the Commissioner
which are applicable to the provisions of the Regulations of the Commissioner
relating to the deposit by a foreign (other nation) bank of eligible assets with an
approved depository pursuant to Section 1811(a)(3) of the Financial Code are
applicable also to these instructions. Accordingly, these instructions should be
read in conjunction with the following provisions of the Regulations of the
Commissioner:
1. Subchapter 1 (commencing with Section 1).
2. Subarticles 1 (commencing with Section 5.3000) and 2 (commencing with
Section 5.3100), Article 4 of Subchapter 5.
3. Article 1 (commencing with Section 10.1) of Subchapter 10.
4. Subarticle 1 (commencing with Section 10.13000), Article 6 of Subchapter 10.
5. Part 10 (commencing with Section 10.16000), Subarticle 3, Article 6 of
Subchapter 10.
B. Contents
The application shall contain the date of the application, the name of the applicant,
and the name of the foreign (other nation) bank at the places indicated on Form 88.
In addition, the application shall contain the following information at the places
indicated on Form 88 and, in case additional space is necessary, on sheets which
shall be attached to Form 88.
1. Information Regarding Applicant
State the name, title, and telephone number of the officer of the applicant who is to
be in charge of the receiving, holding, and releasing of eligible assets of the
foreign (other nation) bank, and state the address of the office of the applicant at
which such functions are to be performed.
STATE OF CALIFORNIA – DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR APPROVAL TO ACT AS APPROVED DEPOSITORY
DBO – Form 88 (Rev. 8-13) Page 3 of 3
2. Information Regarding Material Transactions or Business Relationship
Briefly describe any present or anticipated material transactions or business
relationship between the applicant or any of its affiliates, on the one hand, and the
foreign (other nation) bank or any of its affiliates, on the other hand. If there are
no such material transactions or business relationship, state, "None".
3. Information Regarding Specified Factors
In case any of the following factors is true, provide full details. In case none of
the following factors is true, state, "None".
a. In case the applicant is an affiliate of the foreign (other nation) bank.
b. In case any person who is a director or executive officer of the applicant or of
any parent or subsidiary of the applicant is a director or executive officer of the
foreign (other nation) bank or of any parent or subsidiary of the foreign (other
nation) bank.
c. In case five percent or more of any class of the equity securities of the
applicant or of any parent of the applicant is owned, directly or indirectly, of
record or beneficially, by:
(1) The foreign (other nation) bank and its affiliates, individually or collectively;
(2) The directors and executive officers of the foreign (other nation) bank and
of its parents and subsidiaries, individually or collectively;
(3) The foreign nation where the foreign (other nation) bank is domiciled or
any person controlled by such foreign nation; or
(4) Any person who is, or is controlled by any person who is, domiciled in the
foreign nation where the foreign (other nation) bank is domiciled.
d. In case the foreign (other nation) bank or any of its affiliates is in default on an
obligation which is owed to, or which secures an obligation owed to, the
applicant or any affiliate of the applicant.
D. Signature
The application shall be signed at the place provided on Form 88 in the name of the
applicant by an officer of the applicant.
E. Copies
The original and three copies of the application shall be filed with the Commissioner.
If and when the Commissioner approves the application, the Commissioner will retain
the original and one copy of the application, will return one copy to the applicant, and
will forward one copy to the foreign (other nation) bank named in the application.
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